Roche to cut 1,000 jobs, close N.J. site - New York News | NYC Breaking News

Roche to cut 1,000 jobs, close N.J. site

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Swiss drug maker Roche Holding said it will close a research and development site in Nutley, N.J., and consolidate its R&D activities in Switzerland and Germany.

The closure of the US site is expected to result in the loss of about 1,000 positions, Roche said Tuesday.

Its R&D activities will be consolidated in Basel and Schlieren, Switzerland, and Penzberg, Germany.

Roche said it employs 20,800 people in the US and continues to strongly invest in R&D in the US through its Genentech organization, which is based in San Francisco and isn't affected by this reorganization.

The company said the reorganization will enable Roche to keep R&D costs stable despite a strong increase in the number of clinical development projects over the past 18 months.

Its financial outlook for 2012 remains unchanged.


Copyright (c) 2012 Dow Jones & Company Inc.

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