CORRECTED: Novartis announces 2,000 losses, profits up

25th October 2011, Comments 0 comments

Swiss pharmaceutical giant Novartis announced 2,000 job losses Tuesday, mostly in Switzerland and the United States, while reporting net profits of $3.53 billion for the third quarter.

The firm said in a statement profits for the quarter were up 12 percent and that the job losses were part of a $300 million restructuring programme to strengthen productivity.

© 2011 AFP

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