Novartis to cut thousands of jobs in global revamp: Sources
Zurich: Swiss drugmaker Novartis will cut thousands of jobs worldwide as it combines its pharma and oncology businesses in a reorganisation announced last week, Swiss newspaper Tages-Anzeiger reported on Tuesday, citing unnamed company sources.
More than 100 jobs could also disappear at Novartis's Swiss sites in Rotkreuz and Basel, the paper reported.
Contacted by Reuters, a Novartis spokesperson said efficiencies would come through leaner structures and would "inevitably lead to roles being impacted", but it was too early to give specific numbers.
Novartis, which employs about 108,000 people worldwide, said last week it was integrating its pharmaceuticals and oncology units into an innovative medicines (IM) business to simplify its structure, targeting savings of at least $1 billion by 2024.
The spokesperson said the company expected the new structure to be fully in place and operational by the end of 2022.
Read also: Novartis gets USFDA accelerated approval for PIK3CA-Related Overgrowth Spectrum treatment Vijoice
Our comments section is governed by our Comments Policy . By posting comments at Medical Dialogues you automatically agree with our Comments Policy , Terms And Conditions and Privacy Policy .
Disclaimer: This website is primarily for healthcare professionals. The content here does not replace medical advice and should not be used as medical, diagnostic, endorsement, treatment, or prescription advice. Medical science evolves rapidly, and we strive to keep our information current. If you find any discrepancies, please contact us at corrections@medicaldialogues.in. Read our Correction Policy here. Nothing here should be used as a substitute for medical advice, diagnosis, or treatment. We do not endorse any healthcare advice that contradicts a physician's guidance. Use of this site is subject to our Terms of Use, Privacy Policy, and Advertisement Policy. For more details, read our Full Disclaimer here.
NOTE: Join us in combating medical misinformation. If you encounter a questionable health, medical, or medical education claim, email us at factcheck@medicaldialogues.in for evaluation.