Home » This Swiss Company Announces Job Cuts And Plans To Remove 8,000 Roles From Global Workforce

This Swiss Company Announces Job Cuts And Plans To Remove 8,000 Roles From Global Workforce

This Swiss Company Announces Job Cuts And Plans To Remove 8,000 Roles From Global Workforce

Novartis Announces Plans to Reshape Development Workforce (Image Source: iStockphoto)

Novartis, the Swiss pharmaceutical giant, has announced plans to cut a significant number of jobs within its development organization, responsible for bringing drugs to market. Up to 680 positions are set to be eliminated, with around 440 in Switzerland and up to 240 in the United States over the next two to three years, the company confirmed on Tuesday.

According to the Reuters report, these job reductions are distinct from a broader restructuring initiative that could see as many as 8,000 roles cut from Novartis’s global workforce of 78,000, the company clarified. This move comes amidst similar actions within the industry, with rival Swiss drugmaker Roche having previously announced the elimination of 345 jobs in product development earlier this year.

Novartis currently employs approximately 12,500 individuals in development, encompassing various critical functions such as drug regulation, analytics, quality assurance, and designing the production process post-research. Switzerland houses around 3,000 of these roles, with a further 2,000 based in the United States, representing a significant portion of the affected workforce in these countries.

However, Novartis emphasised that despite these cuts, it intends to create new positions over the next few years, resulting in a net reduction of only 1-2 per cent globally. The company stated that these changes are aimed at reshaping its capabilities to tap into local talent pools, particularly in areas such as data science and regulatory expertise, notably in Britain.

The report added that despite the reductions, Novartis reiterated its commitment to development efforts in Switzerland and the United States, highlighting Switzerland as its innovation hub for complex development and the global headquarters for development operations. A spokesperson emphasized that the United States remains a crucial development hub, with significant representation in global program teams tasked with advancing the company’s medicines pipeline.

In light of these changes, Novartis seeks to streamline its operations while maintaining its strategic focus on innovation and drug development in key global markets.