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||3.93%||3.87%|
|15 yr fixed||2.99%||3.03%|
|30 yr refi||4.03%||3.93%|
|15 yr refi||3.08%||3.07%|
Today's featured rates:
Looks like the Magic Kingdom is lacking some sparkle. Disney's cable channels have lost millions of subscribers in recent years. More
Brazilian police arrested a prominent senator and billionaire CEO for interfering in the investigation of Petrobras, which has pushed Brazil into recession. More
Watsi crowdfunds donations to cover healthcare costs of those in need. And it's seeing a surprising trend: micro-donations via the popular Chinese social networking app, WeChat. More
Some of the coolest toys this year are from small businesses. Here are 10 hot toys that just might be a smash hit this holiday season. More
Facebook just increased the amount of paid time off new dads working at its international offices can take. More