AstraZeneca to cut 1,600 jobs in restructuring

(Source: Reuters)

AstraZeneca, the pharmaceutical and biologics company, has announced that as its London headquarters are transferred to Cambridge its Paddington office will close entirely by 2016 (release). The majority of its 350 London jobs will move to the new headquarters.

The firm plans to invest some $500m in a new purpose built facility in Cambridge while 1,600 jobs presently at Alderley Park, Cheshire will be relocated to Cambridge, Macclesfield and overseas sites.

Global restructuring will see AstraZeneca cut 1,600 staff.