Tuesday, October 25, 2011

Novartis to cut 2,000 manufacturing jobs | InPharm


Novartis will cut around 2,000 jobs is the US and Switzerland as part of additional cost saving measures.

The positions will go over the next three to five years and will see the closure of three manufacturing plants in Italy and Switzerland, which focus on OTC and chemicals.

The Swiss firm also said it would restructure the development organisation in Switzerland and the US that will mean relocating some research activities from Switzerland to the US.

Novartis said that it would take a fourth-quarter charge of about $300 million related to the restructuring.

Posted via email from Jack's posterous

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