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Report: Novartis restructure plan to affect up to 4,000 jobs

  • Novartis (NVS) reportedly plans to slash or move as many as 4,000 jobs as part of a program to cut costs and reduce the number of the company's production facilities.
  • The Swiss drugs producer said it intends to reallocate resources mainly in its pharmaceutical activities so that it can focus on product launches and other growth areas. The company expects that it will create as many jobs as it will produce, so headcount will remain flat this year.
  • A notable number of jobs are expected to be moved to India, where Novartis plans to consolidate sites in the country.
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