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https://www.wsj.com/articles/novartis-to-cut-up-to-8-000-jobs-world-wide-11656505692

Swiss pharmaceutical giant Novartis said it plans to shed as many as 8,000 jobs globally, including 1,400 in Switzerland, as part of a previously disclosed restructuring plan aimed at 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 some 108,000 people globally and 11,600 in Switzerland. The company said in a statement that the new structure would “accelerate growth, strengthen pipeline and increase productivity.”

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This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.