Novartis Plans Restructuring, Job Cuts: WSJE

Novartis plans a restructuring that will result in job cuts and the removal of several layers of management, according to an interview with CEO Daniel Vasella in the Wall Street Journal Europe.

The company also plans to cut costs in its procurement process and use of third-party contractors to oversee clinical trials for medicines, the WSJ said in an article published in its Tuesday edition.

The job cuts come on top of those unveiled in October by the company, the paper said.