UPDATE 1-Jazz to cut 24 pct jobs, take $1.9 mln charge in Q4

Dec 16 (Reuters) - Jazz Pharmaceuticals Inc JAZZ.O said it will cut 71 jobs, or about 24 percent of its workforce, to reduce expenses, and take a charge of about $1.9 million in the fourth quarter.

Jazz's Chief Financial Officer Matt Fust will leave the company at year end to pursue other interests and members of the management team will assume the CFO's responsibilities, it said in a statement.

Jazz, which cut jobs for the third time this year, said the latest reductions will not affect its sales force.

The company, which develops drugs for neurological disorders, said it will continue to develop its experimental treatment for chronic pain syndrome, fibromyalgia, JZP-6.

Jazz currently markets Xyrem, a treatment for the sleep disorder narcolepsy, and Luvox CR, a drug to treat social anxiety disorder.

Shares of the company closed at $1.19 Monday on Nasdaq. (Reporting by Anand Basu in Bangalore; Editing by Gopakumar Warrier)