More Jobs to Be Cut by Pharmaceutical Company
Novartis AG (ADR) (NYSE:NVS) filed a notice with the state, indicating that roughly 250 jobs will be cut from its American operations, with the majority of them coming from its New Jersey facilities.
The company has been in the midst of a worldwide restructuring, with employees being cut, moved around, and otherwise redeployed across many of its operations.
The move comes as the result of a consolidation effort regarding its data operations organization with connections in India, according to a statement from the company.
Novartis has been on a tear recently, shedding jobs across the U.S. over the past few years and around the world as well.
In 2012 alone, the pharmaceutical producer cut 1,960 workers in the U.S., including hundreds in New Jersey.
Several others of Novartis’s primary cutback sites include Cambridge, Massachusetts; Princeton, New Jersey; and Fort Worth, Texas.
In 2015, the company also saw the departure of 760 employees in the U.S., again with another 94 from its New Jersey facilities.
While the company maintains that it is committed to working in the U.S. and providing jobs for American workers, its recent moves have put doubts in the minds of many as the company appears to be outsourcing and cutting jobs.
There is, however, a silver lining. In the fall, the company made several moves to add new staff to research operations based in Cambridge, as well as the relocation of one unit from Singapore to the Bay Area.
Across the globe, everywhere from Switzerland to China, the company is in the midst of a shakeup, moving workers and bringing some jobs to the U.S. while others are being done away with entirely.
How Novartis’s future will impact the remaining American workers remains to be seen. With so many jobs coming and going, it’s hard to determine the security of these new jobs being made by the company, while New Jersey sees many left jobless by the spending cutbacks.
“Novartis swings the ax again, this time aiming at 250 job cuts in the US,” Endpoints News, May 24, 2017.
“Novartis may lay off 200 more workers at East Hanover headquarters,” New Jersey On-Line LLC, May 23, 2017.