Novartis layoffs: Swiss pharma company Novartis is set to cut up to 680 jobs in its development organisation which is related to bringing the firm’s drugs to market. The Basel-based company said that around 440 jobs will go in Switzerland and up to 240 in the United States. This process will be complete over the next two to three years, it said but are separate from a restructuring programme which could lead up to 8,000 of Novartis’s 78,000 global workforce being cut. This comes after another Swiss drugmaker Roche announced earlier this year that it was cutting 345 jobs in product development.
Novartis layoffs: How many employees does the company have?
Novartis currently employs almost 12,500 in development which includes handling drug regulations, analytics, and support functions like quality assurance. This staff is also involved in designing the production process for drugs after research work has been completed.
Novartis layoffs: Who will be affected?
The company has around 3,000 of the roles are currently in Switzerland and 2,000 in the United States. This means that around 14% of the positions in these countries will be affected owing to the layoffs. The company also said that it would add roles over the next two to three years which means there will be a net reduction overall of 1-2% at a global level.
Novartis layoffs: What the company said on the layoffs?
Novartis said the changes were designed to reshape its capabilities to access local talent as it remains committed to development work in both Switzerland and the United States.
“We remain committed to development in Switzerland as our innovation hub for complex development, and providing strategic leadership as the global headquarters for development,” it said, adding, “The US remains a key development hub with strong representation in our global program teams, responsible for advancing our medicines pipeline.”
Stay informed on Business News along with Gold Rates Today, India News and other related updates on Hindustan Times Website and APPs
