Novartis job cuts to heavily impact management roles
Under construction: the new Novartis Pavilion in Basel.
Keystone / Georgios Kefalas
Of the 1,400 job cuts announced by the pharma giant in Switzerland, up to half of them will involve staff in leadership positions, the company said on Monday.
For these executive roles, the consultation process has been finalised, and the first individuals concerned will be informed “in the coming weeks”, said the head of Novartis Switzerland Matthias Leuenberger at a media event in Zurich.
While Switzerland is no stranger to job cuts, such a big lay-off of management level staff is somewhat unprecedented in the country, a spokesperson for the Swiss Employees Association told the NZZ newspaper on Tuesday.
More
More
What’s behind the Novartis job cuts?
This content was published on
The recent decision by the Swiss drugmaker to shed 7% of its workforce is more than just a cost-cutting measure – it’s a turning point for Novartis.
The cuts – part of a worldwide restructuring that will see 8,000 jobs shelved – are part of a streamlining that will see the merger of two previously separate Novartis divisions, Innovative Pharmaceuticals and Cancer Drugs.
The company also wants to simplify its global functions in finance, human resources, legal and communications, with the goal of saving at least CHF1 billion ($1.04 billion) by 2024.
The Swiss cuts will probably not come into effect until summer 2023, due to the terms of the employee contracts, Leuenberger said on Monday. He added that while some staff are concerned about the layoffs, they are “neither frustrated nor angry”, and apparently regard the situation as an opportunity to re-orient themselves.
Leuenberger also said that fewer staff will have the option of taking early retirement compared to a previous bout of layoffs in 2018.
Popular Stories
More
Swiss Abroad
Aussie adoptee gains Swiss citizenship at 54 thanks to old envelope
Basel diocese files five claims of sexual abuse in Swiss Catholic Church
This content was published on
The diocese of Basel has received 141 reports of sexual abuse since the publication of a sweeping study on violations in the Catholic Church by the University of Zurich in 2023.
Swiss president calls for open markets and stable institutions in WEF speech
This content was published on
Swiss President Karin Keller-Sutter was among speakers at the WEF in Davos to make the case for fair competition, a day after Donald Trump became the 47th president of the United States.
Swiss film in competition at the 75th Berlinale has a shot at Golden Bear
This content was published on
The feature film La Cache by Lausanne screenwriter and director Lionel Baier has a chance of winning the Silver or Golden Bear at the 75th Berlinale, festival organisers said on Tuesday.
Swiss politician who shot at image of Jesus resigns from Liberal Green Party
This content was published on
Sanija Ameti, who caused controversy after shooting at an image of Jesus and Mary last September, has resigned from the Liberal Green Party.
Swiss campaigners gather enough signatures to submit ‘responsible business’ initiative
This content was published on
The Swiss people are set to vote again on the corporate responsibility of multinationals after campaigners collected 183,661 signatures in 14 days for their new 'responsible business' initiative.
Several Swiss municipalities and banks hit by cyberattack
This content was published on
Russian hackers attacked the websites of several Swiss municipalities and banks on Tuesday, just as the World Economic Forum (WEF), got under way in Davos.
Music strengthens brain connections in premature babies, Swiss study shows
This content was published on
In premature babies, music strengthens connections in certain areas of the brain, according to a years-long study by the University Hospitals of Geneva (HUG).
WEF gives Crystal Award to Beckham, Yamamoto and von Fürstenberg
This content was published on
The World Economic Forum in Davos handed out awards to UNICEF ambassador David Beckham, Japanese architect Riken Yamamoto and women's rights activist Diane von Fürstenberg.
Swiss CEOs betting on a strong domestic market in 2025
This content was published on
Swiss business leaders are optimistic about 2025, despite a world in crisis, says a new survey by Pricewaterhouse Coopers.
This content was published on
Economics Minister Guy Parmelin and Foreign Minister Ignazio Cassis have welcomed Chinese Vice Premier Ding Xuexiang to Bern
This content was published on
With over 100,000 jobs listed as vacant in the first quarter of 2022, staff shortages are reaching record levels in Switzerland.
This content was published on
Around 1,500 jobs are affected in production and 700 in services. Novartis currently employs 13,000 people across Switzerland.
You can find an overview of ongoing debates with our journalists here . Please join us!
If you want to start a conversation about a topic raised in this article or want to report factual errors, email us at english@swissinfo.ch.