Novartis Will Cut 8,000 Jobs Under CEO’s Shake-Up Plan

Pharmaceutical giant Novartis said Tuesday it will lay off more than 7% of its workforce, just a few months after CEO Vas Narasimhan announced a plan to simplify the organizational chart.

Novartis (ticker: NVS) will chop as many as 8,000 positions out of the total of 108,000 at the pharmaceutical company. The biggest impact of the layoffs will be at the company’s Switzerland headquarters, where as many as 1,400 people could lose their jobs.

 » Read More  » Read More

Tags: No tags

Comments are closed.