Home » US business news • US Employment News » Novartis cuts almost 300 jobs in New Jersey in the latest wave of layoffs
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Novartis is laying off 285 employees in New Jersey as it looks for ways to cut costs.
Three of its subsidiaries in East Hanover are being restructured - Novartis Services, Novartis Pharmaceuticals, and Novartis Corporation.
The cuts which are set to take effect by January 28, will help the firm save $1 billion.
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A company spokesperson said the axed roles are from “former Pharmaceuticals and Oncology divisions.”
It will also hit “certain functions of Global Drug Development, and certain business units that were part of Customer Technology Solutions.”
Staff in communications, compliance, finance, legal, and other departments are likely to lose their jobs as a result of the new wave of layoffs.
Novartis has its US headquarters in East Hanover.
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The Swiss pharma giant announced in June that the layoffs would be happening, affecting 8,000 of its global workforce, including those in the executive suite.
It went through a broad restructuring in the past months, unifying its pharmaceuticals and oncology divisions into a single entity called Innovative Medicines.
A company spokesperson said Novartis is providing "support" for those losing their jobs.
They will receive job-finding services and career counseling, as well as help in locating new positions within the organization.
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Novartis has been slimming down its workforce in recent months, with hundreds of job losses.
The pharmaceutical firm had laid off 246 workers in August when it closed the Sandoz oral solid dose plant in Wilson, North Carolina.
In October, it slashed 400 jobs in Dublin, and in the last month, 275 staffers at its gene therapy manufacturing plant in Libertyville, Illinois were removed.
A company spokesperson said Novartis’ decision came after a “comprehensive manufacturing site network evaluation.”
Source: Fierce Pharma
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