Sanofi plans to cut 700 jobs in Europe
Posted: March 10th, 2011 | Author: Saddam Hussain | Filed under: By Location, UK | Tags: Sanofi | No Comments »The reshuffle is part of a strategic plan called Transforming which was launched by the French drugmaker in 2009, the newspaper added, citing a union source.
“In total the French company will only hold 10 European subsidiaries, compared with more than 30 at present,” the newspaper said.
Under the project, Sanofi would merge its activities in Benelux into a regional platform. Activities in Switzerland, Austria, Germany, Spain, Portugal, Hungary, the Netherlands, the Czech Republic and the United Kingdom may also be reorganized, La Tribune said.
A Sanofi spokesman refused on Tuesday to confirm how many people would be laid off but said the company was reorganizing units.
On Monday, the French drugmaker said it had extended its offer for all outstanding shares of U.S. biotech Genzyme (GENZ.O) until April 1 from March 16.
From: Reuters
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