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Pharma Giant Novartis Slashed 8000 Jobs Worldwide

Pharma Giant Novartis Slashed 8000 Jobs Worldwide
Photo Courtesy: Healthcare African Magazine

Novartis planned to lay off a total of 8,000 workers globally. This number is about 8.4 percent of the total workforce of the Swiss pharmaceutical company. Of these, 1,400 workers in Switzerland may face layoffs. The pharmaceutical company will lay off workers as part of the business restructuring announced April 2022. The article is about Pharma Giant Novartis Slashed 8000 Jobs Worldwide.

Novartis announced a restructuring program last April 2022, according to its report. At the time, the company’s Chief Executive Officer (CEO), Vass Narasimhan, said a single number of thousands of workers would face layoffs. In addition, the company aims to save at least $100cr by 2024 by restructuring its business.

Novartis said in an e-mail statement that the organization had made good progress in implementing the new organizational structure. Under this system, pharmaceutical and tumor treatment business units will be consolidated, and staff will be laid off from different departments. The company said that of the 8,000 workers worldwide, 1,400 in Switzerland could face layoffs. At present, Novartis has 1 lakh 8 thousand employees all over the world. Of these, 11,600 are in Switzerland.

As part of the restructuring plan announced in April, the agency said spending would be reduced, largely by removing the fragmented structure. Tumor treatment and pharmaceutical business will not be conducted separately. The new structure will be implemented in the next few months.

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