More Bad News for New Jersey: Roche Is Moving Its US Corporate Headquarters to California
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On the heels of yesterday’s announcement that it wants to buy Genentech, Roche, in a surprise move, announced today that it will move its Nutley, NJ-based US corporate headquarters to California. According to a report, research and development activities in oncology and metabolism at the Nutley site will be expanded. However, the company will consolidate all Nutley-based finance and information-technology operations and close manufacturing facilities on the site by 2010. It is not clear how many of Roche’s 3,240 New Jersey employees will be affected by the proposed move to South San Francisco. Suffice it to say, more than a few Roche employees are likely to lose their jobs after the company’s headquarters heads west.
Once dubbed the”nation's medicine chest”, New Jersey has steadily been losing pharmaceutical jobs since 1990 when 20% of all US pharmaceutical jobs were in NJ—at present 13.7% of American pharmaceutical jobs reside in NJ. It has been a long, slow burn for the pharmaceutical and biotechnology workforce in the Garden State.
The Roche announcement comes as several other New Jersey drug makers, including Schering-Plough and Johnson & Johnson's Ortho Biotech unit, have been laying off workers because of the economic downturn and tough times in the industry. It also comes several days after Barr Pharmaceuticals, headquartered in Montvale, announced that it is being acquired for $7.5 billion by Israeli generics giant Teva.
The growing scarcity of pharmaceutical and biotechnology jobs coupled with the highest property taxes in the US may cause a mass migration from the state. Not that there is anything wrong with that!!!!!!
Until next time….
Good Luck and Good Job Hunting!!!!!
The only surprise here is the detailed nature of their announcement seeing as the acquisition is far from over! To announce specific intent with people & organizations in NJ under the broad assumption that you can get the deal done seems premature.
Imagine the ramifications to Roche's current employees in NJ if (for some reason) they are not able to pull off the acquisition of Genentech and have to back-pedal on this. Would you announce to all your employees that you are moving to a new building across town and that there "will be changes" in the organization...before you signed a new lease agreeement?
I think there is a suprise that the moving of the to other place.
They atleast think about the employees who had worked here and they cannot come with the organisation ...... At least once before leaving.... All the employees should raise their voices and ask for justice and for the job's.,.,...........
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johnson