Slimming down its workforce to save $1 billion, Swiss pharma giant Novartis has unveiled the next leg of its far-reaching restructuring.
Novartis is cutting 285 jobs across three New Jersey sites, according to a local Worker Adjustment and Retraining Notification Act notice. The trio of businesses in East Hanover are listed as Novartis Services, Novartis Pharmaceuticals and Novartis Corporation. The layoffs will take effect by Jan. 28.
The eliminated roles will touch "former Pharmaceuticals and Oncology divisions, certain functions of Global Drug Development, and certain business units that were part of Customer Technology Solutions," a Novartis spokesperson said. Employees across communications, compliance, finance, legal and more are set to lose their jobs under the latest round of cuts.
Novartis' U.S. headquarters is located in East Hanover.
The New Jersey layoffs should come as little surprise. Back in June, the company said it planned to cut 8,000 jobs around the globe, with the cull telegraphed to go all the way up to the company’s executive suite.
Under the new structure, Novartis combined its pharmaceuticals and oncology business units into a single group called Innovative Medicines. The company also changed its structure for various other groups.
Novartis is offering "support" for employees losing their positions, which will include job-finding services and career counseling, plus support locating new roles within the company, the company's spokesperson said.
Around the world, Novartis has eliminated hundreds of jobs in recent months.
In August, Novartis said it was shuttering its Sandoz oral solid dose plant in Wilson, North Carolina, along with around 246 jobs.
Across the pond, Novartis recently gave staffers the boot in Ireland, too, where the company in October slashed some 400 jobs in Dublin.
Last month, Novartis’ cut circled back around to the U.S., hitting 275 employees at a gene therapy manufacturing plant in Libertyville, Illinois.
Novartis' action followed a “comprehensive manufacturing site network evaluation,” a company spokesperson said in an emailed statement at the time.