Vas Narasimhan, Novartis CEO (Thibault Camus/AP Images, Pool)

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.”

Endpoints News

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