Novartis to Lay Off 8,000 Employees

June 28, 2022

The pharma giant Novartis will lay off up around 8,000 employees in the near future amid internal restructuring efforts. The Swiss-American multinational will axe 1,400 positions in Switzerland, over 10% the company’s employees in the nation. The restructuring, according to the company, will save $1 billion or more by 2024.

According to Reuters, “Novartis said in an emailed statement it had made good progress in implementing its new organisational structure that involved integrating its pharmaceuticals and oncology business units and would lead to eliminating roles across the organisation.”

To learn more, click here.

(Source: Reuters, June 28th, 2022)

Share This Story!