Icelandic pharmaceutical company Actavis will be closing up shop here, and taking their operations to Switzerland.
RÚV reports that in about a month, the company will be opening its new headquarters in the town of Zug, in Switzerland.
The reason behind the move has actually little to do with the economy. Guðbjörg Edda Eggertsdóttir, chairman of Actavis, said that there is simply a shortage of qualified personnel in Iceland.
By all accounts the company has looked high and low throughout the country for suitable employees, and has still come up short. This has led to them having to hire unqualified or underqualified people, and then training them.
In Switzerland, however, there are apparently plenty of qualified people in the pharmaceutical field.
Actavis already has offices in countries all over Europe, and their Swiss office was opened in 2006. The move will be the formal re-location of their headquarters.
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