Swiss drug firm Roche to cut 4,800 jobs

Image caption, Roche said the cuts would take place across its global workforce

Swiss drug maker Roche is to cut 4,800 jobs over two years, in order to save 2.4bn Swiss francs ($2.4bn; £1.5bn).

Roche said the staffing reduction amounted to 6% of its global workforce, and would mainly affect positions in sales, marketing and manufacturing.

A further 1,500 jobs will be transferred to other locations within the company, or outsourced.

Last month, Roche said its sales for the July to September period had fallen by 7% to 11.5bn Swiss francs.

Analysts had widely expected Roche to trim its costs after a year in which its share price has fallen by 19%.

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