Novartis to slash 2,000 jobs as part of cost-cutting drive
The group has already cut thousands of jobs and shut several sites, notably in Britain. It has also shifted its focus to speciality medicines over the past year in a bid to boost profitability and protect its bottom line.
The latest measures, which affect 1.7% of Novartis’ global workforce and involve moving more commoditised business activities to less expensive countries, should allow the group to rake in annual savings of more than $200 million (€143.6m).
