AIRLINK 71.32 Decreased By ▼ -1.74 (-2.38%)
BOP 5.00 Decreased By ▼ -0.09 (-1.77%)
CNERGY 4.35 Decreased By ▼ -0.02 (-0.46%)
DFML 32.20 Decreased By ▼ -0.25 (-0.77%)
DGKC 76.06 Increased By ▲ 0.57 (0.76%)
FCCL 19.64 Increased By ▲ 0.12 (0.61%)
FFBL 36.41 Increased By ▲ 0.26 (0.72%)
FFL 9.26 Increased By ▲ 0.04 (0.43%)
GGL 10.06 Increased By ▲ 0.21 (2.13%)
HBL 113.48 Decreased By ▼ -3.22 (-2.76%)
HUBC 133.35 Increased By ▲ 0.66 (0.5%)
HUMNL 7.00 Decreased By ▼ -0.10 (-1.41%)
KEL 4.40 Decreased By ▼ -0.01 (-0.23%)
KOSM 4.40 No Change ▼ 0.00 (0%)
MLCF 36.40 Increased By ▲ 0.20 (0.55%)
OGDC 133.25 Decreased By ▼ -0.25 (-0.19%)
PAEL 22.71 Increased By ▲ 0.11 (0.49%)
PIAA 24.85 Decreased By ▼ -1.16 (-4.46%)
PIBTL 6.50 Decreased By ▼ -0.05 (-0.76%)
PPL 116.30 Increased By ▲ 0.99 (0.86%)
PRL 26.62 Decreased By ▼ -0.01 (-0.04%)
PTC 14.05 Decreased By ▼ -0.05 (-0.35%)
SEARL 52.50 Decreased By ▼ -0.95 (-1.78%)
SNGP 67.50 Increased By ▲ 0.25 (0.37%)
SSGC 10.70 No Change ▼ 0.00 (0%)
TELE 8.52 Increased By ▲ 0.10 (1.19%)
TPLP 10.82 Increased By ▲ 0.07 (0.65%)
TRG 63.26 Decreased By ▼ -0.61 (-0.96%)
UNITY 25.00 Decreased By ▼ -0.12 (-0.48%)
WTL 1.30 Increased By ▲ 0.03 (2.36%)
BR100 7,457 Decreased By -4 (-0.05%)
BR30 24,151 Decreased By -19.9 (-0.08%)
KSE100 71,245 Increased By 142.9 (0.2%)
KSE30 23,428 Increased By 33.8 (0.14%)
Business & Finance

Novartis to cut around 500 jobs in Switzerland, add 350

  ZURICH: Novartis plans to cut or transfer around 500 traditional production and development jobs at Swiss site
Published May 18, 2017

 

ZURICH: Novartis plans to cut or transfer around 500 traditional production and development jobs at Swiss sites over the next 18 months and add 350 others, mostly in its biotech business, the drugmaker said on Thursday.

Swiss domestic head Matthias Leuenberger gave the figures in an interview posted on the company's website.

He said no other moves of that magnitude were planned for Switzerland through the end of 2018, although smaller adjustments could not be excluded.

He said adding 350 high-tech jobs showed Novartis remained committed to manufacturing in Switzerland.

A company statement said the job cuts were part of efforts launched last year to create a unified operating model that would "lead to personnel adjustments in various countries".

Novartis said in October it was closing some of its research operations in Switzerland and China and cutting 175 jobs as it  centralises control over its drug discovery programs and contains costs.

Novartis, which employs around 120,000 globally, was also relocating its tropical disease research arm from Singapore to California.

 

Copyright Reuters, 2017
 

Comments

Comments are closed.