Novartis Announces New Round of Layoffs at U.S. Headquarters Amid Global Restructuring

On August 22, according to Fierce Pharma, following hundreds of layoffs in New Jersey earlier this year, Novartis will initiate a new round of layoffs, planning to cut 103 jobs at its U.S. headquarters in East Hanover, effective in November.

According to insiders, based on the new approach of "accelerating clinical trial recruitment and enhancing clinical trial delivery," Novartis plans to cut positions related to clinical operations in this round of layoffs.

Novartis and its employees may not be unfamiliar with layoffs. Due to a major global restructuring, Novartis announced a plan last June to cut 8,000 jobs globally, accounting for approximately 7% of its workforce. In 2022, Novartis incurred about $1.2 billion in restructuring costs, and the total number of employees decreased by 2.5% to 101,700.

In addition to staff reductions, Novartis is progressively divesting non-core business assets to further focus on innovative drug development. This includes the spin-off of its generics division Sandoz, the sale of the dry eye drug Xiidra to Bausch + Lomb, and the termination of the collaboration agreement for the TIGIT inhibitor ociperlimab with BeiGene.

References:

Novartis to lay off another 100-plus employees at US HQ as global restructuring rolls on（fiercepharma.com）

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