In a global restructuring effort, Swiss drug giant Novartis will cut more than 2,000 jobs, according to The Wall Street Journal.
Most of the job cuts, which will take place through 2022, will affect employees in Switzerland. The drug giant will eliminate a net 1,000 production jobs and 700 positions in business services. It also plans to cut 400 jobs at a plant in the U.K.
The job reduction is part of CEO Vasant Narasimhan's plan to shift the company's efforts from high-volume drugs to personalized medicines, including gene therapies.
Novartis employs 12,800 people in Switzerland.