By Sahil Pandey and Siddhi Mahatole May 13 (Reuters) – Japan’s Takeda Pharmaceutical plans to cut about 4,500 jobs in fiscal year 2026, as part of a restructuring to centralize corporate functions and reduce costs. The company expects annual savings of more than 200 billion yen ($1.27 billion) by fiscal 2028, with about 100 billion […]
Health
Takeda to cut about 4,500 jobs in fiscal 2026 as it steps up restructuring
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By Sahil Pandey and Siddhi Mahatole
May 13 (Reuters) – Japan’s Takeda Pharmaceutical plans to cut about 4,500 jobs in fiscal year 2026, as part of a restructuring to centralize corporate functions and reduce costs.
The company expects annual savings of more than 200 billion yen ($1.27 billion) by fiscal 2028, with about 100 billion yen expected in fiscal 2026, it said in its fourth-quarter earnings presentation on Wednesday.
A Takeda spokesperson told Reuters that the number represents less than 10% of its global workforce and does not include hiring plans.
The company currently has about 2,200 open roles and expects to create new jobs during the year, which it will prioritize to fill with internal candidates, the spokesperson said.
Takeda has been in the midst of a years-long overhaul following its $62 billion acquisition of Shire in 2019, which expanded its global footprint but added debt and complexity.
The company expects higher selling, general and administrative, and R&D expenses linked to upcoming product launches, including narcolepsy treatment oveporexton, blood disorder drug rusfertide and psoriasis pill zasocitinib, but said much of the increase would be offset by the restructuring program.
It anticipates restructuring costs of around 170 billion yen in fiscal 2026, with lower amount expected in the next two years, according to the presentation.
Jefferies analyst Stephen Barker said investor focus is likely to shift to three late-stage product launches expected over the next 12-18 months.
Takeda’s announcement comes after Danish drugmaker Novo Nordisk said in September it would slash 9,000 jobs in a bid to fend off intense competition from U.S. rival Eli Lilly.
Earlier this month, Takeda’s immune disease drug met the main goal in a mid-to late-stage study, with the company planning to seek approval in the U.S. this year.
($1 = 157.8300 yen)
(Reporting by Sahil Pandey and Siddhi Mahatole in Bengaluru; Editing by Shilpi Majumdar)