Roche Cutting 600 New Jersey Jobs By June After Genentech Deal
March 26 2010 - 10:57AM
Dow Jones News
Roche Holding AG (RHHBY) plans to eliminate 500 positions in New
Jersey by the end of this month, related to last year's acquisition
of Genentech Inc., and plans to cut another 100 jobs in the state
by June.
The moves, detailed in a notice filed in late January with the
state's Department of Labor and Workforce Development and obtained
by Dow Jones Newswires, are due to the Swiss drug maker
"permanently shutting down or reducing in size certain operations"
in Nutley and Clifton.
About a year ago, Roche paid $46.8 billion to acquire the 44% of
Genentech Inc. that it didn't already own. Roche projected some job
cuts would occur from merging its Nutley operations with those of
Genentech in South San Francisco, as well as the planned phase out
of manufacturing operations in Nutley.
Roche spokesman Alfred Wasilewski said the N.J. notice covers
those moves, but it doesn't account for jobs added to the Nutley
campus from the relocation of some research operations from a Roche
facility in Palo Alto, Calif.
"During the same time period, as the Nutley campus is shifting
in emphasis to becoming a major research and development hub for
Roche, the company added approximately 200 positions in the
sciences," he said.
Roche, which had 2009 revenue of about $45.9 billion, employs
more than 80,000 people worldwide.
-By Thomas Gryta, Dow Jones Newswires; 212-416-2169;
thomas.gryta@dowjones.com