Novartis has announced plans to cut 2,550 jobs in Switzerland and Britain over the next four years. The move is meant to boost profits and allow the drugmaker to focus on new medicines.
Novartis workers in Switzerland will see approximately 2,150 jobs cut at four factories as well as the area's business services unit. Another 400 jobs will be lost in northeast England in Grimsby.
With plans to spin-off of eyecare unit Alcon in early 2019, Novartis' workforce will fall from 124,000 to less than 100,000 people by 2022.
Read the Reuters report