Sanofi (France) (SAN.PA) CEO Pledges "Thoughtful" Job Cuts
7/26/2012 7:02:35 AM
Sanofi (SAN) says pressing ahead with a plan to reorganize drug research in France is critical. So is caution in a country on the brink of labor unrest. Chief Executive Officer Chris Viehbacher, speaking after PSA Peugeot Citroen and Alcatel-Lucent SA unveiled a combined 13,000 job cuts this month, said shutting labs in Toulouse and Montpellier will be done “thoughtfully.” The 52-year-old executive wouldn’t put numbers on Sanofi’s intended French job cuts, saying he needs to consult unions and draw up a more specific proposal to be unveiled in September. Overhauling pharmaceutical research at France’s largest drugmaker may take a few years, he said.