Out of office

Out of Office: Novartis slash 8,000 roles; Donohoe rules out emergency budget

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Novartis, the pharmaceutical giant, announced that it will cut up to 8,000 jobs across its offices worldwide as part of restructuring plans. The largest impact of the layoffs will be at the company’s headquarters in Switzerland, where up to 1,400 people could lose their jobs. The aim of the restructuring plans is to achieve at least $1 billion in annual savings by 2024, the company said in its quarterly earnings report in April.

Irish food prices were the second most expensive in the euro zone in 2021 and were 17 per cent above the European average, according to figures published by the Central Statistics Office. Irish prices for milk, cheese and eggs were 25 per cent higher than the European average, while oils and fats were 22 per cent higher and breads and cereals were 20 per cent higher. The price of fish, however, is 3 per cent lower in Ireland relative to the European average.