Novartis AG Lays Off 111 In Buy-Out's Wake

4/27/2006 12:24:05 PM

By Susan L. Thomas (East Bay Business Times)--Novartis AG is laying off 111 workers, a week after the Swiss drug maker closed its acquisition of Chiron Corp., according to the Alameda County Workforce Investment Board. The board reported Thursday that Novartis (NYSE: NVS) had issued layoff notices to those employees, as required by law. Novartis officials were not immediately available for comment. The board, which tracks layoffs in the county, is a federally mandated agency that provides work force training and assistance to employers and job seekers.

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