Novartis plans to cut around 8,000 jobs

29 June 2022

Swiss pharma giant Novartis (NOVN: VX) is to slash its global workforce by around 8,000.

The company announced plans for a new organizational structure and operating model in April of this year, and has now provided further details on what this means for employees.

Novartis’ reorganization is aimed at accelerating growth, strengthening its pipeline and increasing productivity and will include the integration of the Pharmaceuticals and Oncology business units into an Innovative Medicines (IM) business across all markets. A new Strategy and Growth function will also be created.

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