Novartis is set to lay off more than 400 employees at its U.S. headquarters in East Hanover, according to a recent filing with the New Jersey Department of Labor & Workforce Development (NJDOL). The layoffs, part of the company’s ongoing global restructuring efforts, are expected to take effect June through October.
This move is the latest in a series of workforce reductions by the Swiss pharmaceutical giant as it shifts focus on innovative therapies and digital transformation. Novartis previously announced 139 layoffs last November.
While Novartis has not disclosed specific departments affected by the newest round of layoffs, the cuts are expected to impact multiple business units.
In a statement, Novartis acknowledged the difficulty of these decisions and reiterated its commitment to supporting affected employees by offering severance packages, career counseling, and outplacement services.
Novartis has been a major presence in New Jersey’s life sciences sector for decades, and despite the layoffs, the company maintains that it remains committed to its operations in the state.
