It’s nice that we gave away the bank to these guys isn’t it?
Pharmaceutical giant AstraZeneca will cut 8,000 jobs by 2014. There’s no word on how many jobs will be affected at the company’s U.S. headquarters in Wilmington, Delaware.
While announcing a 26% increase in profits for the fourth quarter, the drug maker also announced its plans to restructure and eliminate jobs. AstraZeneca CEO David Brennan says the company expects revenue to fall later this year as some of it’s products lose patent protection.
“We’ll continue to reshape our business adapting our cost base to the realities of the marketplace today, and as you all know that is changing, these structures continue to impact on our people and in the communities in which we operate.”
The latest round of 8,000 job cuts come after the company had already eliminated more than 12,000 jobs since launching a “cost-cutting” program in 2007. Some of those cuts were off-set by the addition of nearly 5,000 jobs in other areas.
I’d like to remind people the amazing give away that AZ got in order to set up shop in Fairfax. The monumental construction that occurred on RT 202, 141 and around the Alapocas or better known as the “Blue Bell Triangle” area was pretty much a give away. The construction costs to help the employees get too and from was supposed to help accomodate a corporate HQ in the US and allow thousands of employees an easy commute. This land give away caused almost a decade of pain to the citizens of North Wilmington and was the last peice of a 3 decade long series of projects to Concord Pike.
The construction was called the “Astra Zeneca Project”
How fitting eh? The AZ Project. And meanwhile De’s U/E number keep creeping up. Below the Nat’l Avg, but still rising.
One hell of a project.