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Sanofi (France) (SAN.PA) to Cut 1,000-2,000 Jobs


7/5/2012 7:13:14 AM

Drugmaker Sanofi plans to cut 1,000 to 2,000 jobs in France, according to French daily Le Figaro, the latest in a series of cost-cutting moves at the company, some of whose key drugs face increased competition from generic rivals. The jobs targetted will be in the areas of research, the manufacturing operations of the company's Pasteur vaccines unit and certain support operations at Sanofi's headquarters, the newspaper said in a pre-released story from its Thursday edition, citing unnamed sources. A Sanofi spokesman declined to comment on the report but confirmed that a meeting with the company's works council was due to take place on Thursday, when employment perspectives in France would be discussed.

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