Novartis AG (NVS)'s Cost-Cutting Move Affects Up To 4,000 Jobs  
2/3/2014 7:20:22 AM

Novartis is cutting jobs but others are hiring too! Check it out! (Isn't it tempting?)

Swiss drugs group Novartis (NOVN.VX) intends to cut or transfer up to 4,000 jobs, newspaper NZZ am Sonntag reported on Sunday, citing an internal email. The plan affecting up to 6 percent of its pharmaceuticals workforce comes on top of a program to reduce the number of production sites and is part of a larger drive to cut costs, the newspaper said. Global drugmakers are under increasing pressure from investors to step up restructuring as patents on best-selling drugs expire and governments try to keep a lid on health costs.

Don't forget, hundreds of biopharma companies are hiring! (We know you can't resist.)