0751 GMT October 13, 2019
Novartis now has about 13,000 employees in its home country, Reuters reported.
In total, about 1,500 positions will be cut from Novartis’s production sites in Basel, Stein, Locarno and Schweizerhalle, Chief Executive Vas Narasimhan said on a call with reporters.
In addition, the company is eliminating 700 positions in its Swiss business services as it transfers jobs elsewhere.
With 450 new positions being created for production of cell and gene therapies, Swiss positions will be cut by about 1,750 net jobs.
Novartis Chairman Joerg Reinhardt said this month the company was planning to streamline its worldwide production to increase its operating profit margin amid declining prices for its drugs in the US.