Novartis to cut 1,100 jobs worldwide
The Basel-based chemicals and pharmaceuticals company Novartis announced Tuesday it would cut 1,100 jobs worldwide due to restructuring in its agricultural business sector. About 150 of those jobs will be lost in Switzerland.
The Basel-based chemicals and pharmaceuticals company Novartis announced Tuesday it would cut 1,100 jobs worldwide due to restructuring in its agricultural business sector. About 150 of those jobs will be lost in Switzerland.
The decision was announced by the new head of the agricultural business sector, Heinz Imhof.
He said Novartis would reassess the importance of individual research projects , better adapt the range of products on offer to suit customer demand, and optimise the use of the company’s production facilities.
The agricultural business sector has seen a recent drop in turnover and profits, and Novartis is hoping the measure will allow it to save SFr100 million ($65 million).
The job cuts in the sector, which currently employs 18,000 people, are to be achieved over a period of two years.
Sources: apd, sda-ats
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