Skip to content

Novartis Will Cut as Many as 8,000 Jobs Under Plan to Save $1 Billion by 2024

The Novartis AG campus in Basel, Switzerland.

The Novartis AG campus in Basel, Switzerland.

Photographer: Stefan Wermuth/Bloomberg

Novartis AG will cut as many as 8,000 jobs under a plan to save at least $1 billion by 2024 and boost the pharmaceutical giant’s performance.

The Swiss company detailed the cuts, equal to more than 7% of its global workforce, on Tuesday after outlining the restructuring in April. Among other things, Novartis plans to generate savings by combining its pharmaceuticals and oncology units.