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.
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