Volume 89 Issue 44 | p. 11 | News of The Week
Issue Date: October 31, 2011

Novartis To Cut 2,000 Jobs

Employment: Layoffs follow similar moves by Amgen, AstraZeneca
Department: Business | Collection: Economy
Keywords: pharmaceuticals, research, job cuts

Swiss pharmaceuticals maker Novartis plans to eliminate 2,000 jobs—equivalent to 1% of its workforce—as it tries to reduce expenses in line with drug price cuts and the impact of the strong Swiss franc on profits.

About 1,100 employees will be laid off in Switzerland, and another 900 or so will be let go in the U.S. Some 270 preclinical safety profiling and siRNA research positions in Basel, Switzerland, will be shifted to the . . .

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