By Max Bernhard 
 

Novartis AG (NOVN.EB) said Tuesday that it plans to cut more than 2,000 jobs in Switzerland.

The company will cut 1,000 net jobs as part of adjustments to its production network. That figure for job cuts already takes into account the creation of up to 450 new jobs, the Swiss pharmaceutical company said.

Another 700 positions could be cut as part of the company's business-services strategy, Novartis said.

The move is part of Novartis's effort to be more efficient and agile, said Chief Executive Vas Narasimhan.

 

Write to Max Bernhard at max.bernhard@dowjones.com

 

(END) Dow Jones Newswires

September 25, 2018 03:09 ET (07:09 GMT)

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