Novartis cost-cutting drive affects up to 4,000 jobs

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“Up to 6% of Swiss drugs groups’s pharmaceuticals workforce to be cut or transferred, many to restructured operations in India

The Swiss drugs group Novartis intends to cut or transfer up to 4,000 jobs, according to an internal email. The plan, affecting up to 6% of its pharmaceuticals workforce, comes on top of a programme to reduce the number of production sites and is part of a larger drive to cut costs, the newspaper NZZ am Sonntag reported.

Global drugmakers are under increasing pressure from investors to step up restructuring as patents on best-selling drugs expire and governments try to keep a lid on health costs.”

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From Reuters & The Guardian

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