Cambridge based Genzyme Corp. will cut about 1,000 jobs worldwide

Cambridge-based Genzyme Corp. will cut about 1,000 jobs worldwide as part of a restructuring plan. The beleaguered biotech giant also will outsource jobs and impose a partial hiring freeze.

The company, which is a takeover target of French drugmaker Sanofi-Aventis, will eliminate roughly 10 percent of its 12,800-employee work force by 2012, becoming the latest pharmaceutical giant to announce job cuts in recent months, according to a memo from Chief Executive Henri Termeer to employees.

It is unclear how many jobs will be cut in the Bay State where Genzyme employs 4,500 workers.

Genzyme, the world’s largest maker of drugs for rare diseases, rejected Sanofi’s $69-per-share offer last month, saying it undervalued the company.

The company agreed to pay a $175 million federal fine after the contamination scandal.

From: Boston Herald