Most of the job cuts, which will take place through 2022, will affect employees in Switzerland. The drug giant will eliminate a net 1,000 production jobs and 700 positions in business services. It also plans to cut 400 jobs at a plant in the U.K.
The job reduction is part of CEO Vasant Narasimhan’s plan to shift the company’s efforts from high-volume drugs to personalized medicines, including gene therapies.
Novartis employs 12,800 people in Switzerland.
More articles on pharmacy:
PBM lobby selects new chief with government ties: 5 things to know
AbbVie hit with lawsuit over alleged $1.2B kickback scheme
Reputation save: Novartis links employee bonuses to ethical behavior
At the Becker's 11th Annual IT + Revenue Cycle Conference: The Future of AI & Digital Health, taking place September 14–17 in Chicago, healthcare executives and digital leaders from across the country will come together to explore how AI, interoperability, cybersecurity, and revenue cycle innovation are transforming care delivery, strengthening financial performance, and driving the next era of digital health. Apply for complimentary registration now.
