NEW YORK (CNNMoney.com) -- Swiss health care company Roche said Wednesday it would cut 4,800 jobs over the next two years as part of its "Operation Excellence Program."
Roche said it hoped to save about $2.4 billion through 2012, primarily by cutting or adjusting 6% of its work force of 82,000 people.
In addition to the 4,800 job cuts, the company plans to transfer 800 jobs internally and transfer 700 jobs to "third parties," affecting some 6,300 jobs overall.
Most of the job cuts and transfers would occur in the pharmaceuticals division, primarily in sales, marketing and manufacturing.
In the United States., the company will cut 3,550 jobs. The cuts and other restructuring actions will affect facilities in California, Colorado, New Jersey, South Carolina and Wisconsin. Outside the United States, the reorganization will be focused in Switzerland, Germany and Austria.
The company said it was "adapting cost structures to an increasingly challenging market environment."
|Overnight Avg Rate||Latest||Change||Last Week|
|30 yr fixed||3.83%||3.80%|
|15 yr fixed||2.97%||3.00%|
|30 yr refi||3.81%||3.79%|
|15 yr refi||2.99%||2.98%|
Today's featured rates:
Nike is opening up shop on Amazon.com and the company plans "big shifts" over the coming year. More
The Trump administration has rejected a frantic cry for help from coal execs requesting an emergency order that would protect coal-fired power plants from being closed. More
But customers who opt for the cheapest option may be disappointed with the video quality. More
In 1998, Ntsiki Biyela won a scholarship to study wine making. Now she's about to launch her own brand. More
Oregon made tuition free at community colleges last year, but the state had to change eligibility requirements this fall due to high turnout and limited funding. More