Swiss pharmaceutical giant Novartis said it plans to lay off 8,000 jobs globally, including 1,400 in Switzerland Previously Revealed Restructuring Plan With the aim of saving some $1 billion in costs.
The cuts would affect 7.4% of Novartis’s jobs globally and 12% of its Switzerland-based workers, the company said in a statement. Novartis employs approximately 108,000 people globally and 11,600 in Switzerland. The new structure will “accelerate growth, strengthen the pipeline and increase productivity,” the company said in a statement.