Roche to slash up to 1,200 jobs, shutter 4 plants in US and EU in major restructuring
- Roche is dialing back its manufacturing at underutilized facilities, including one in the United States and three in Europe. The closures could result in about 1,200 workers losing their jobs.
- This process will cost the company roughly $1.6 billion in restructuring charges through 2021.
- Roche hopes to divest the plants slated for closing in order to offset some of the job losses.
Roche hopes to reallocate funds away from the underutilized facilities towards plants involved in the manufacturing of small-molecule specialized medicines, which require new manufacturing techniques. The sites planned for closure are located in Clarecastle, Ireland; Leganes, Spain; Segrate, Italy; and Florence, South Carolina in the United States.
While the total number of jobs to be eliminated is substantial, Roche plans to offset those losses by selling targeted facilities. Also, it's important to note that the process will start next year and won't be complete until 2021.