Novartis To Cut 2,500 Jobs

AP   |   December 13, 2007 07:42 AM

Read More: Big Pharma, Drug Companies, Job Cuts, Novartis, Novartis AG, Pharmaceutical Companies, Pharmaceutical Industry, Breaking Business News
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Novartis AG will cut 2,500 jobs worldwide by 2010 in an attempt to save $1.6 billion, the drug maker said Thursday.

The company said it would take a restructuring charge of about $450 million (306 million euros) in the fourth quarter of 2007.

Novartis already had announced in October that it would cut 1,260 jobs in U.S. pharmaceuticals marketing and sales. The new cuts represent about 2.5 percent of Novartis' global work force.

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- mrcontinental See Profile I'm a Fan of mrcontinental

But, but, but the market rallied and the worlds central banks are giving away free money.

    Favorite    Flag as abusive Posted 09:28 AM on 12/13/2007
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