Pharmeuctical company Novartis is set to cut over 400 Dublin jobs over the next two years.
The measure was announced this morning and will affect its site located at Elm Park in Dublin. The company currently employs 1,500 people across its bases in Dublin and Cork.
The drugs firm acknowledged in a statement that the “strategic decision” would impact 400 positions over a phased period. The company claimed the job losses would ultimately lead to a better organisational structure and increase productivity by making operations “leaner and simpler.”
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A spokesperson for the company said: “Novartis recognises that announcing such an intention has a significant impact on people and creates uncertainty. Novartis is committed to keeping associates informed in as transparent and timely a manner, as possible.”
The organisation, which does significant research in areas such as neuroscience and immunisation, informed employees of the news this morning. The staff reductions will take place over the next two years. It is unclear which specific areas will be targeted in the overhaul.
Tanáiste and Minister for Enterprise Leo Varadkar commented on the decision earlier today and said State assistance would be provided to employees made redundant from the measure. He acknowledged that the news was a “major blow” for workers and their families in a statement.
He said: “I have asked my officials and IDA Ireland to keep me informed of developments, especially regarding precisely how many roles are at risk before the end of 2024 and what the redundancy package will be.”
Novartis was one of the first pharmaceutical companies to operate in Ireland. The world’s second largest pharmaceutical company has a history of investment here that dates back to the 1950s. It employs approximately 180,000 people worldwide.
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