Thousands of jobs are on the chopping block as Novartis lays out restructuring plans, M&A hunt for deals up to $2B
Agility is the name of the game at Novartis — at least according to CEO Vas Narasimhan, as he sketches out a massive reorganization and taps Wall Street analyst Ronny Gal to oversee growth. And Narasimhan’s slimmed-down vision for Novartis will leave thousands of jobs on the chopping block, a spokesperson told Endpoints News on Tuesday.
“We can’t give a precise figure as we are still working on many of the design elements of the new organization,” the spokesperson said in an email. “As a broad range, we expect a number in the single digit thousands of roles across the company would be impacted by these changes. This will be subject to consultation with works councils and subject to the finalization of the full organizational structure.”
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