Pharmaceutical giant Novartis has announced that it plans to axe thousands of jobs worldwide.
The group currently employs around 1,500 people in the UK, with plans to cut 400 of these roles. As well as the UK, Novartis will also cut over 2,000 roles in Switzerland.
The group has said the decision to phase out roles is not relevant to Brexit.
“Novartis has been a part of the Grimsby community for many years so this has been a very difficult decision,” said the UK country president, Haseeb Ahmad.
“The Grimsby site is an effective, well-running operation that is testament to the hard-working and dedicated employees. We will treat every employee with the utmost respect, sensitivity and fairness during this difficult time.”
“This decision has been made alongside broader changes to our business globally, and as a result of the changes in our product portfolio which now focuses on more specialised medicines, reflective of today’s changing healthcare needs.”
“Novartis remains committed to the UK and believes that the UK is a world-leader in life sciences. Today’s announcement is part of a global review of our manufacturing operations and is not linked to the decision of the UK to leave the European Union,” he added.
Novartis currently employs around 124,000 people worldwide, with plans to cut this number to below 100,000 by 2022.
Unions criticised the decision and said the company will be worse off.
Shares in the group (SWX: NOVN) were up about 0.8 percent at 0900 GMT.