Scoop: In 2007, AstraZeneca said that it would cut 7,600 positions by 2013 in order to save $3 billion. Earlier this year the company almost doubled that layoff figure when it revealed it would eliminate another 7,400 positions, bringing the two-year layoffs total to 15,000. AstraZeneca didn't detail exactly where all those cuts would come from. But later in the year it did offer to buy out its entire sales force.
AstraZeneca's sales simply aren't keeping with the company's operating costs, so any so any new earnings growth will have to come from falling costs. But the company will look to emerging markets to boost sales in the future. The restructuring plan will help divert some resources to those areas in hopes of goosing them further upward.