Sanofi (France) (SAN.PA) Staffers Plot Protests as Job Cuts Loom
9/17/2012 6:54:03 AM
French newspaper Le Figaro has claimed that Sanofi plans to axe between 1,500 and 2,500 jobs next week, with employees in France bearing the brunt of the cutbacks. The article says that Sanofi is poised to announce the job cuts on September 25 as it tries to reduce its French workforce from its current level of around 28,000 staff, and suggests that the pharma company will try to meet the target through attrition. In July, Sanofi said it would press ahead with plans to reduce its headcount despite pressure from the French government, which has adopted a 'name-and-shame' policy to try to discourage companies from cutting back staff if they remain profitable.