Latest NewsNovartis Reduces 8,000 Jobs Worldwide

Novartis Reduces 8,000 Jobs Worldwide

Swiss pharmaceutical massive Novartis is reducing around 8,000 jobs worldwide, or just over seven percent of its global workforce, as part of a large reformation push.

Novartis, which currently employs some 108,000 people around the world, confirmed late Tuesday that:

It would shed thousands of jobs as chunk of a restructuring plan publicized in April.

Under that plan, the company goals to shorten its structure.

Among other things gathering oncology and other pharmaceutical actions in a single division.

No figures were originally given for the layoffs, but Swiss media stated the global number Tuesday, and also said:

The company planned to slash 1,400 jobs in Switzerland — about 12 percent of its workforce in the country.

In an email sent to employees, Novartis chief Vas Narasimhan clarified the company’s new structure.

Which he pledged would be “both leaner and simpler”.

But this “will unfortunately entail layoffs,” he wrote, conferring to the Tages-Anzeiger newspaper.

Some jobs relocated to the Czech Republic and to India, but others, which become superfluous with the restructuring, eliminated, it said.

The company goals to “rationalize our global functions”.

A Novartis spokesman told AFP, accumulation that jobs in finance, legal services and communications cut.

“We recognize the impact these changes on our people,”

He said, promising that the company.

“Ensure we meet all requirements for employee consultation. Via representative bodies where applicable, and provide outplacement and career counselling support to those who impacted.”

The company said in April that this restructuring plan would leave it with $1 billion more in its coffers by 2024.

From selling off divisions, cutting administrative expenses and overall cost-savings.

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