Novartis cuts thousands of jobs during global reshuffle

This is information published by the Swiss newspaper Tages-Anzeiger, citing unnamed sources, on April 12, when Novartis merger its pharmaceutical and cancer treatment subsidiaries.

More than 100 positions could also be cut at Novartis’ branches in Switzerland, such as in Rotkreuz and Basel, the Tages-Anzeiger newspaper reported.

Contacted by Reuters, a Novartis spokesman said the effect will come from merging with leaner structures. And “certainly the merger process will lead to affected positions”, but it is still too early to give specific numbers.

Novartis will cut thousands of jobs worldwide. (Photo: AP)

Novartis, which employs about 108,000 people worldwide, confirmed last week it was integrating its pharmaceutical and cancer drug manufacturing units into one innovative drugs (IM) business to simplify structure, aiming to save at least $1 billion by 2024.

A Novartis representative said that the company expects the new structure to be completed and put into operation by the end of 2022.

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