Novartis whacking nearly 2,000 manufacturing jobs to pump up margins
Novartis says that four traditional pill manufacturing plants in Switzerland and one in the U.K. will be hit with job cuts as it trims down a system that operates below capacity while generics steal market share and patients rely more on complex biologics medicines.
The company says the cuts in Switzerland will affect about 1,000 jobs, but that is a net number taking into account 450 jobs that are being added at a cell and gene therapy unit in Stein. Novartis will train as many of the targeted workers as possible on the new technology platform in Stein.
