Novartis to cut thousands of jobs in global revamp - paper

TX AG

12/04/2022 08:06

ZURICH, April 12 (Reuters) - Swiss drugmaker Novartis
 NOVN.S  will cut thousands of jobs worldwide as it combines its
pharma and oncology businesses in a  reorganisation announced
last week, Swiss newspaper Tages-Anzeiger reported on Tuesday,
citing unnamed company sources. 
    More than 100 jobs could also disappear at Novartis's Swiss
sites in Rotkreuz and Basel, the paper reported.
    Contacted by Reuters, a Novartis spokesperson said
efficiencies would come through leaner structures and would
"inevitably lead to roles being impacted", but it was too early
to give specific numbers.
    Novartis, which employs about 108,000 people worldwide, said
last week it was integrating its pharmaceuticals and oncology
units into an innovative medicines (IM) business to simplify its
structure, targeting savings of at least $1 billion by 2024.
 urn:newsml:reuters.com:*:nL5N2W20P9
    The spokesperson said the company expected the new structure
to be fully in place and operational by the end of 2022.
    

 (Reporting by Oliver Hirt and Silke Koltrowitz; Editing by
Michael Shields)
 ((silke.koltrowitz@thomsonreuters.com; +41 41 528 3638;))