Drugmaker AstraZeneca Poised To Cut 3,000 More Jobs, Report Says

It's been a tough few years for the pharmaceutical industry and for the workers employed within it. A dearth of new drugs and other business challenges have led many companies to make dramatic cutbacks in spending that have resulted in thousands of layoffs.

And the bloodletting isn't over yet. Analysts estimate that global drug maker AstraZeneca is expected to announce another 3,000 layoffs, when the company releases its annual earnings statement Thursday, The Sunday Times of London reports. The job cuts would be part of the company's ongoing cost-reduction program begun in 2010.