Drug Giants Takeda, Pfizer, Roche and Novartis Slash Jobs in Switzerland as Pharmaceutical Industry Faces Uncertainty

Amidst the growing pressure on drug prices and the sharp rise in inflation, pharmaceutical companies are forced to reduce their costs. Takeda, Pfizer, Roche and Novartis have all announced job cuts in Switzerland, with hundreds of positions being eliminated.

Takeda has recently completed a six-story office building renovation at its headquarters in Opfikon, not far from Zurich Airport. The company employs around 1,200 people from over 60 nations at this location. However, despite the state-of-the-art technology and luxurious amenities such as seating areas, coffee rooms and a newly designed canteen with several daily changing menus, the mood among the workforce remains depressed.

The Japanese pharmaceutical giant has announced plans to eliminate one in ten jobs in Opfikon, which is where the entire European business is managed. The consultation process with employees has been completed and 120 jobs will be lost. Those who are laid off will be given priority when vacant positions are filled, but the future remains uncertain.

The pharmaceutical industry is facing challenges due to rising costs and declining revenues. Major companies like Pfizer and Novartis are also announcing job cuts to offset these challenges. While Switzerland offers advantages for these companies, there are concerns about maintaining access to skilled workers in Europe amid changing regulations.