Sanofi executives meet on Tuesday with worker representatives in France to discuss a planned restructuring that will lead to job cuts, according to the CGT union. One argument that CEO Olivier Brandicourt can make is that the Paris-based company is much less efficient than almost all of its biggest competitors, as measured by sales per 1,000 employees. That’s not likely to hold much sway with unions, which point to the company’s estimated profit for last year of more than 7 billion euros ($7.63 billion).
