Novartis Announces 139 Job Cuts in New Jersey Amid Commercial Refocus

Job Cuts:
Novartis is laying off 139 employees in East Hanover, New Jersey, as part of its commercial refocusing efforts4.

Location:
The layoffs are specifically at the company's U.S. headquarters in East Hanover, New Jersey4.

Reason:
The job cuts are part of Novartis' broader restructuring initiative aimed at simplifying its structure and enhancing commercial activities15.

Previous Layoffs:
In 2022, Novartis announced plans to eliminate up to 8,000 jobs globally, with 285 job cuts in New Jersey effective January 28, 202312.

Strategic Goals:
Novartis aims to become a top-five player in the U.S. by 2027, focusing on core therapeutic areas and advancing key drugs like Cosentyx and Entresto1.

Savings:
The company expects to save $1 billion by 2024 through its restructuring efforts1.

Sources:

1. https://www.biospace.com/novartis-restructuring-claims-285-jobs-in-new-jersey

2. https://www.biospace.com/biospace-layoff-tracker

4. https://www.fiercebiotech.com/biotech/fierce-biotech-layoff-tracker-2024

5. https://www.novartis.com/sites/novartiscom/files/novartis-integrated-report-2022.pdf