Swiss pharma giant Roche launches cost-cutting programme

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Swiss pharmaceutical giant Roche said Friday it was launching a cost-cutting programme which could lead to job cuts.

The company said in a statement that "mounting pressures to curb healthcare costs" in the United States and Europe were among the reasons for the move.

It added that more details on the measures and their potential impact on jobs would be announced before the end of the year.

The pharmaceutical giant, which makes drugs such as flu medication Tamiflu, currently employs 80,000 people.

Swiss newspaper Sonntag had reported on Sunday that the group was looking at a "massive reduction of posts."

In July, the group posted a growth of 37 percent in first half net profit.

© 2010 AFP

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