Restructuring of Roche expected

Swiss pharmaceutical giant Roche is expected to announce a major restructuring programme later today that could mean the loss of thousands of jobs.

Roche employs 250 people in Ireland at its compound manufacturing plant in Co Clare.

The company will issue a statement at 5.15 p.m. today, just after the Zurich stock exchange's close, said a company spokeswoman.

She declined to comment on this morning's Financial Timesreport that Roche intends to cut more than 3,000 jobs at its flagship pharmaceuticals division, or about 8 per cent of the unit's workforce.

Roche may also revamp its manufacturing division, outsourcing more production, and leading to another 800 job losses, the FTsaid.