The J&J Fallout Begins: Alza Slashes Jobs
Make a commentBy Ed Silverman // July 31st, 2007 // 6:24 pm
Alza is eliminating approximately 600 jobs in research, development and support by year’s end, according to The Silicon Valley-San Jose Business Journal. The restructuring came within hours of the announcement by Alza’s parent, Johnson & Johnson, that it plans to cut its global work force by 3 percent to 4 percent, or as much as 4,820 jobs.
Another 200 positions in clinical development, manufacturing, sales and marketing, at both Alza and Scios - another J&J division - will be relocated to other company sites, including its West Coast hub for drug discovery in La Jolla, Calif.
Alza was acquired in 2001 by J&J for $10.5 billion and Scios was acquired in 2003 for $2.3 billion. The two companies will vacate their shared office space at in Mountain View, which is in Silicon Valley, by year’s end, and Alza will seek a buyer for its stake in the property. The company says that its 1,200-person facility in Vacaville will continue to operate without disruption.