Novartis said on Tuesday that a previously announced restructuring plan could cut 8,000 jobs, including up to 1,400 in Switzerland, according to a report in the Swiss newspaper TagesAnzeiger.
The job cuts are part of a restructuring plan announced in April by the Swiss pharmaceutical group, which aims to save at least $ 1 billion by 2024.
Novartis said in an email that it had made progress in implementing its new organizational structure, which included the consolidation of its pharmaceutical and oncology business units, and would lead to the elimination of roles throughout the organization.
Novartis said the new structure with fewer overlaps in its operations will be implemented in the coming months.
He said he had completed the appointment of the majority of the leadership worldwide and would provide further updates in the coming weeks.
Source: Capital
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