The joint venture of GlaxoSmithKline's and Novartis's consumer health-care businesses will result in the cutting of 350 jobs in New Jersey, with reductions coming from each of the companies' Parsippany locations, a GlaxoSmithKline representative said Wednesday.
The job cuts that began last month, will continue through the rest of this year, said MalesiaDunn, a GlaxoSmithKline spokeswoman. "We are looking at bringing together the very best talent from both organizations," she said.
The reason for the layoffs, disclosed Tuesday in a notice filed with the New Jersey Department of Labor & Workforce Development, is "to meet established financial and synergy targets and eliminate duplication," GlaxoSmithKline said in the so-called WARN notice.
Employees being laid off include marketing and medical affairs managers and associates, sales and operations associates, finance personnel, information technology personnel, consumer relations managers and associates, and regulatory affairs managers and associates.
Severance pay and job placement services will be available, said Dunn. She could not immediately provide details on those programs, nor did she know how many employees will remain next year when the joint-venture partners move into one new Parsippany location, which has not yet been identified.
In the meantime, the GlaxoSmithKline employees will continue to work at 1500 Littleton Road and the Novartis employees will continue to work at 200 Kimball Drive, she said.
The previously announced deal will result in Novartis owning a 36.5 percent share of the venture and filling four of 11 seats on venture's board.
The joint venture offers wellness, oral health,nutrition and skin products.