Sanofi (France) (SAN.PA) Plans 900 Job Cuts Amid French Research Overhaul
9/25/2012 7:23:56 AM
French pharmaceutical giant Sanofi SA plans to cut 900 jobs in France by 2015, as it reviews its operations in the country in a bid to maintain profitability after it lost patent protection on some of its blockbuster drugs in the U.S. earlier this year. Sanofi will cut the jobs through early retirements and voluntary departures, the company said in a statement Tuesday. It added it won't close or relocate any of its industrial sites in France but will cut the size of many research and development labs in the country and may sell its Toulouse site in Southwestern France to another company or institution, which would maintain scientific or technological activity there.