Pharmaceutical companies in Switzerland are under pressure to reduce costs due to rising inflation and declining drug prices. Takeda, Pfizer, Roche, and Novartis are among the companies that have announced job cuts as a result of these pressures.
Takeda, a Japanese pharmaceutical giant with its headquarters in Opfikon, Switzerland, recently renovated its facilities with state-of-the-art technology. However, despite providing amenities like soundproofing, open-plan offices, seating areas, and a new canteen, the mood among employees is somber due to the news of impending job cuts. Takeda plans to eliminate one in ten jobs in Opfikon, affecting 120 employees. The consultation process has been completed, and talks with affected employees will take place soon. The company is part of a global cost-cutting program with an estimated restructuring cost of $900 million.
Pfizer and Roche are also implementing cost-cutting measures that are resulting in job losses. Pfizer announced plans to save $4 billion annually while Roche aims to keep its workforce stable in 2024. The industry is facing cost pressures due to rising expenses and declining drug prices. Despite the need to save money, pharmaceutical companies in Switzerland emphasize the importance of access to skilled workers in Europe. Restrictions on the free movement of people could accelerate job losses in the industry.
The sharp rise in inflation and growing pressure on drug prices are compelling pharmaceutical companies to reduce costs. Companies like Takeda, Pfizer, Roche, and Novartis are cutting hundreds of jobs in Switzerland.
Takeda recently renovated its headquarters in Opfikon with state-of-the-art technology. However, despite providing amenities like soundproofing, open-plan offices