Demonstrators angered by Novartis job cuts

At least 1,000 people have taken part in a demonstration in Nyon, protesting at job cuts at Novartis and the planned closure of a plant in the town.

This content was published on November 12, 2011 - 18:40 and agencies

Last month, the Basel-based pharmaceutical giant announced it would cut 2,000 jobs, with slightly more than half to be shed at operations in Switzerland.

Demonstrators carried banners with slogans like, “a wounded region is ready to fight”.

If Novartis goes ahead with the plan, more than 300 jobs would be lost at the Nyon plant, which makes non-prescription medications.

Some of the work will be outsourced, according to the company, which said it would create 700 new positions in China and India and other low-wage countries.

Novartis revealed the plans to slim down its workforce during the announcement of its third-quarter results. It posted a seven per cent increase in net profit and earnings from $2.49 billion (SFr2.19 billion), up from $2.32 billion from the same period last year.

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