Sino-Singapore Jingwei, June 30. According to the Wall Street Journal Chinese website, Swiss pharmaceutical giant Novartis said it plans to cut as many as 8,000 jobs worldwide, including 1,400 in Switzerland, as part of a previously disclosed restructuring plan. In part, it aims to save about $1 billion in costs.
The cuts will affect 7.4 percent of Novartis jobs globally and 12 percent of employees in Switzerland, the company said in a statement.Novartis has around 108,000 employees worldwide and 11,600 in Switzerland.The company said in a statement that the new structure will "accelerate growth, enhance back-up channels and increase productivity."
Part of the new structure includes consolidating its pharmaceutical and oncology business units into one unit that will be called Innovative Medicine.
A spokesman said the company was "making good progress" on previously announced structural reforms and had completed hiring most of its leadership team globally, according to a foreign media report.In late April, Novartis said it would hire longtime analyst Ronny Gal as its chief strategy and growth officer.(Sino-Singapore Jingwei APP)
(Editor in charge: Han Yijia)
