Novartis has said that it is cutting about 1,250 jobs in the US as it reorganises the management structure of its drugs arm. It plans to cut about 240 positions at its U.S. headquarters and reduce the U.S. sales force by approximately 510 Novartis and 510 third-party representatives.
Savings would be some $230 million in 2008.
The announcement came after drug sales slowed by 2% in the three months to the end of September.
Overall underlying profits fell 12% to $1.57bn (£769m) from $1.79bn in the same period a year ago.
More at the BBC
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