In order to save $1 billion, 285 positions will be cut in the new year at the Morris County-based pharmaceutical company, Novartis.
The layoffs will take place at three New Jersey segments — four positions at Novartis Services, 221 positions at Novartis Pharmaceuticals and 60 positions at Novartis Corp. Under the latest round of cuts, employees across communications, compliance, finance, legal and other areas are set to lose their jobs.
The eliminated roles, according to a WARN notice filed with the New Jersey Department of Labor & Workforce Development, will take effect as of Jan. 28, 2023, and come on the heels of a June announcement that the company said it would trim 8,000 jobs globally.
In April 2022, Novartis announced the creation of a new organizational structure and operating model to accelerate growth, strengthen our pipeline and increase productivity. We have integrated the Pharmaceuticals and Oncology business units into an Innovative Medicines business, combined the Novartis Technical Operations and Customer & Technology Solutions units into a new Operations unit, integrating our global functions, and established a new Strategy & Growth function. The new structure will be a leaner organizational model that is aligned with our focused strategy and will support innovation, growth and productivity.
A Novartis spokesperson said that as a result of these changes, approximately 8,000 positions are being eliminated around the world.
Novartis issued the following company statement:
“We recognize the impact these changes have on our people. The company is offering support for impacted associates, including outplacement services and career counseling, as well as support finding new roles within the company. All impacted associates were notified earlier this year and are receiving enhanced severance packages.”
