Novartis to cut up to 8,000 jobs worldwide

Swiss pharmaceutical giant Novartis said it plans to reduce 8,000 jobs globally, including 1,400 in Switzerland, as part of a restructuring plan disclosed earlier to save about $1 billion in costs.

The company said the cuts would affect 7.4% of Novartis jobs globally and 12% of workers in Switzerland. Novartis employs approximately 108,000 people globally and 11,600 in Switzerland. The company said in a statement that the new structure will “accelerate growth, strengthen pipelines, and increase productivity.” Novartis to cut up to 8,000 jobs worldwide

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