Novartis plans to cut up to 550 full-time jobs by the end of 2027 at its plant in Stein, Switzerland, as the company updates its production capabilities.
Novartis stressed that the layoffs are not linked to its planned $23 billion investment over five years in U.S.-based infrastructure, announced back in April.
The cuts are part of the company’s plans to end production of tablets and capsules and packaging of sterile medicines at the Stein site. However, the drugmaker will invest $26 million into sterile dosage production at the plant.
Novartis will also invest $80 million to expand siRNA production at its Schweizerhalle site on the edge of Basel and create around 80 new positions there by the end of 2028.