Roche has confirmed that it plans to lay off several hundred employees from its product development team, but it has not given specific details.
In a statement, the Basel, Switzerland-based pharmaceutical firm said that it expects that the majority of affected employees would be “external contractors,” with less than 6% of its permanent product development team laid off. The firm said that the number of permanent full-time employees at risk from the layoff would be less than 340.
Roche employs approximately 101,000 people globally, including 14,200 in Switzerland, according to the company's website.
"The success and sustainable growth of our company depends on our ability to recognize innovation proactively and early on, to adapt to change and to use our resources wisely," a firm spokesperson said in a statement. "We expect Roche's total workforce to remain stable in 2024."
The firm has faced a sharp decline in demand for its COVID-19 tests and treatments and a drop in sales for three cancer drugs. However, Roche has also recently reported growth that it said offsets this decline and exceeds the firm’s 2023 guidance.
