Novartis to cut or transfer up to 4,000 pharma jobs: paper

Swiss drugs group Novartis (NOVN.VX) is planning 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. NZZ am Sonntag said it received a statement from Novartis saying that the overall number of employees should remain "relatively stable" in 2014. The paper said that a significant part of the 4,000 jobs will be transferred to India, where Novartis rented an office building able to house 8,000 employees in Hyderabad.

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