AstraZeneca increase job cuts to 5,050

Pharmaceutical company AstraZeneca will cut a tenth of its workforce in the next three years in an attempt to boost growth.

The group announced its workforce would be reduced by a further 2,300, in addition to the 1,600 announced this month and 1,150 announced in February 2012.

The cuts were revealed as part of the company’s latest strategy outline released today, which revealed its intention to re-focus research efforts towards three areas, respiratory, inflammation and auto immunity, cardiovascular and metabolic disease and oncology.

Chief Executive Officer, Pascal Soriot said: “AstraZeneca is committed to delivering great medicines to patients through innovative science and excellence in development and commercialisation.