Novartis Plans to Cut Over 2,000 Jobs in Switzerland
September 25 2018 - 2:24AM
Dow Jones News
By Max Bernhard
Novartis AG (NOVN.EB) said Tuesday that it plans to cut more
than 2,000 jobs in Switzerland.
The company will cut 1,000 net jobs as part of adjustments to
its production network. That figure for job cuts already takes into
account the creation of up to 450 new jobs, the Swiss
pharmaceutical company said.
Another 700 positions could be cut as part of the company's
business-services strategy, Novartis said.
The move is part of Novartis's effort to be more efficient and
agile, said Chief Executive Vas Narasimhan.
Write to Max Bernhard at max.bernhard@dowjones.com
(END) Dow Jones Newswires
September 25, 2018 03:09 ET (07:09 GMT)
Copyright (c) 2018 Dow Jones & Company, Inc.
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