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NVS Novartis AG

103.20
-0.11 (-0.11%)
Pre Market
Last Updated: 13:32:44
Delayed by 15 minutes
Name Symbol Market Type
Novartis AG NYSE:NVS NYSE Depository Receipt
  Price Change % Change Price High Price Low Price Open Price Traded Last Trade
  -0.11 -0.11% 103.20 9,098 13:32:44

Novartis Plans to Cut Over 2,000 Jobs in Switzerland

25/09/2018 8:24am

Dow Jones News


Novartis (NYSE:NVS)
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   By Max Bernhard 
 

Novartis AG (NOVN.EB) said Tuesday that it plans to cut more than 2,000 jobs in Switzerland.

The company will cut 1,000 net jobs as part of adjustments to its production network. That figure for job cuts already takes into account the creation of up to 450 new jobs, the Swiss pharmaceutical company said.

Another 700 positions could be cut as part of the company's business-services strategy, Novartis said.

The move is part of Novartis's effort to be more efficient and agile, said Chief Executive Vas Narasimhan.

 

Write to Max Bernhard at max.bernhard@dowjones.com

 

(END) Dow Jones Newswires

September 25, 2018 03:09 ET (07:09 GMT)

Copyright (c) 2018 Dow Jones & Company, Inc.

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