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. Last Updated: 07/27/2016

Agribusiness Jobs Cut

ZURICH, Switzerland -- Swiss life sciences group Novartis AG said it would cut around 1,100 jobs in its agricultural division over the next two years to revive the weakest of its three major businesses.

Novartis said Tuesday that the measures would cut costs by at least 100 million Swiss francs ($64.89 million) a year and rejected speculation it planned to divest or merge any agribusiness units.