Novartis will start to lay off about 8,000 people worldwide.

Novartis will start to lay off about 8,000 people worldwide.

Novartis will lay off about 8,000 people worldwide. A spokesman for Novartis said that Novartis plans to lay off as many as 8,000 people, accounting for about 7% of the company's total employees. Novartis will lay off about 8,000 people worldwide.

Novartis will lay off about 8,000 people worldwide. 1. As concerns about inflation increase and confidence in the world economy weakens, TSLA executives. United States), Novartis Pharmaceutical (NVS). USA) and retailer 3B Home (BBBY). US) proposed to cut expenses or lay off employees, while other companies shelved projects or transactions.

The growth of global manufacturing industry is slowing down, because Russia and Ukraine have destroyed the supply chain, and inflation, which has hit a new high for decades, continues to rise, while the risk of recession in the United States is increasing, posing a new threat to the global economy. Now more companies take actions in advance to help them tide over any downturn, which indicates that there may be more layoffs when a large number of financial reports are released next month.

Art Hogan, chief market strategist of National Securities, said, "What companies are most worried about now is how much the economy will slow down and whether it can avoid recession. The market has been held hostage because of fears that the Fed will curb inflation and trigger a recession. These concerns are the primary and core issues for most of this year. "

Zhitong Finance reported that 3B Home said on Wednesday that BBBY. The United States announced its first quarter results, with revenue and profit lower than market expectations. The revenue of Q 1 was US$ 654.38+US$ 46 million, which was 25% lower than that of US$ 0.65438+US$ 95 million in the same period last year, lower than the market expectation of US$ 654.38+US$ 0.565438+US$ 0 billion. At the same time, the company also announced that as part of the leadership adjustment, it will replace CEO Mark Tritton.

Sue Gove, the interim CEO of 3B Home, said in a statement that the customer's mood has changed dramatically this quarter and the pressure has increased greatly. This includes sharp inflation. In this regard, 3B Home said that it would cut its capital expenditure by about 25% and suspend renovation and opening new stores.

Other companies shelved expansion plans or laid off employees.

South Korean battery manufacturer LG Energy is a major supplier of American automakers such as Tesla. Due to the "unprecedented" economic situation, the company is rethinking its plan to invest $654.38+03 billion in the Arizona factory announced three months ago.

Elon musk, CEO of Tesla, had previously said that he felt the economic situation was "very bad" and that the company had closed its California office and laid off about 200 employees of the autonomous driving team. Musk once said that the company needs to lay off about 10%.

Novartis said on Tuesday that due to the streamlining of its tumor business and non-tumor business, the previously announced restructuring plan may lead to 8,000 layoffs, accounting for about 7.4% of its global workforce.

With the high inflation rate, more and more companies find it difficult to pass on the rising raw material and labor costs to consumers.

Stuart Cole, chief macroeconomist of Equiti Capital, said: "For most companies, they have to absorb a lot of price increases by themselves, which means they can only cut costs in other ways."

By contrast, the CEO of cereal maker General Mills told investors on Wednesday that rising prices have prompted more consumers to give up eating out and eat at home instead.

The uncertainty of the market has also led to more and more business suspension.

On Tuesday, WBA in walgreen. The United States has shelved its plan to sell its British retail chain pharmacies because the state of the global financial market means that it is difficult for potential buyers to borrow enough funds.

Julie Utterback, Morningstar analyst, said: "M&A activities are usually carried out in stable or rising markets, so the fluctuations we have experienced so far this year may have a negative impact on these M&A activities."

The share price of Just Eat Takeaway.com, the largest online ordering company in Europe, hit a record low on Wednesday. Whether the loss-making company can successfully sell its Grubhub business in the United States and whether it can make a profit without additional financing has been questioned.

Prior to this, Berenberg analysts rated Just Eat Takeaway.com as "sold" for the first time in a report. Analysts questioned whether the company could sell Grubhub for $5.8 billion, as it did in the all-share acquisition completed in June 200212008.

Novartis will lay off about 8,000 people worldwide. According to foreign media reports, a spokesman for Novartis said that Novartis plans to lay off as many as 8,000 people, accounting for 7% of the company's total employees, including as many as 1400 jobs in Switzerland, hoping to save at least $654.38 billion by 2024.

Boots landing

Novartis laid off as many as 8,000 people.

As early as April this year, Novartis CEO Vas Narasimhan announced that he would integrate multiple business units to streamline the structure, promote growth and save costs, and hinted that he would lay off employees on a global scale.

Specifically, Novartis will introduce a new organizational structure and operating model to integrate pharmaceutical and oncology business departments into innovative drug departments; Merge the three departments of strategy, R&D portfolio strategy and business development to establish a new strategy and growth business department; Finally, the technical operation department and the customer and technical solution department will be merged to form a new operation department.

The new model will help Novartis pay more attention to and devote itself to its core therapeutic fields, such as cardiovascular, hematology, solid tumor, immunology and neuroscience.

However, at that time, Vas Narasimhan failed to give a specific number of layoffs. This guess finally landed, and the number of layoffs was as high as 8,000.

At the same time, some executives of Novartis have not been spared. According to the latest news, Robert Weltevreden, President of Customer and Technology Solutions, and Susanne Schaffert, Head of Oncology at Novartis, have both left their jobs, and Shreeram Aradhye succeeded John Tsai as Chief Medical Officer.

In addition, Novartis recently hired Ronny Gal, a former Bernstein analyst, as its chief strategy and growth officer to lead the merger. CEO Vas Narasimhan said the company is looking for deals worth about $2 billion or less.

The layoffs of pharmaceutical companies have been staged repeatedly.

The bubble finally burst?

In recent years, the framework of pharmaceutical companies has been greatly adjusted, and layoffs are common. In 2022, affected by many factors such as industry shocks, many well-known multinational pharmaceutical companies continued to report layoffs, including some senior executives.

In particular, biotechnology companies in Europe and America set off a wave of layoffs, and even several companies directly chose to close down. Some listed companies directly announced their delisting, and investors' hard-earned money instantly hit Shui Piao.

In addition to Novartis, Merck plans to fire a group of Acceleron employees, which may affect 143 people; Gilead will fire the employees of the former immunization headquarters 1 14; New Zealand pharmaceutical company announced the reduction of 90% American employees; Bluebird Bio plans to lay off 30% ...

Novartis will lay off about 8,000 people worldwide. According to the Wall Street Journal Chinese website, Novartis, a Swiss pharmaceutical giant, said that it plans to lay off as many as 8,000 people worldwide, including 1 4,000 people in Switzerland, which is part of the previously disclosed restructuring plan, aiming to save about 1 billion dollars.

The company said in a statement that these layoffs will affect 7.4% of Novartis's global jobs and 65,438+02% of Swiss employees. Novartis has about 108000 employees worldwide and 1 1600 employees in Switzerland. Judging from the proportion of layoffs, the number of Swiss employees will be "optimized" to exceed 10%. The company said in a statement that the new structure will "accelerate growth, strengthen backup channels and increase productivity".

The core of Novartis's organizational adjustment is to integrate the pharmaceutical and oncology business departments into a unified "innovative drug department". The world is divided into two independent business districts, America and International. The new two departments operate independently, accounting independently, and are fully responsible for all treatment fields.

Subsequently, Novartis also identified the regional head of Innovative Drugs International and made corresponding organizational appointments. Among them, Zhang Ying, President of Novartis Pharmaceuticals (China), was appointed as President and Managing Director of China District, an innovative drug, with effect from June 1.

At present, it is not known whether this layoff plan will affect Novartis China.

According to foreign media reports, a spokesman said that the company has made "good progress" in the previously announced structural reform and has completed the recruitment of most leading teams around the world. In late April, Novartis said it would hire long-term analyst Ronny Gal as its chief strategy and growth officer.