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Swiss drug maker Roche to cut 1,000 jobs in US

Tuesday - 6/26/2012, 1:22pm  ET

GENEVA (AP) - Swiss drugmaker Roche Holding AG has announced plans to cut 1,000 jobs in the United States by closing a research and development site in New Jersey.

The Basel, Switzerland-based company says its closure of the site in Nutley, N.J., is "expected to result in a reduction of around 1,000 positions" and that the research and development that was conducted there will be consolidated with its operations in Basel and Schlieren, Switzerland, and in Penzberg, Germany.

It said the consolidation would result in about 80 more jobs in Switzerland and Germany.

Roche, which employs 20,800 people in the U.S., also said in its announcement Tuesday the reorganization would keep the company's research and development costs stable, despite a big increase in clinical development projects in the last 18 months.


(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)