Sanofi to Cut Around 500 Net Jobs in France as It Moves to Restructure Globally

Date : 12/05/2018 @ 6:02PM
Source : Dow Jones News

Sanofi to Cut Around 500 Net Jobs in France as It Moves to Restructure Globally

Sanofi (EU:SAN)
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   By Donato Paolo Mancini 
 

Sanofi SA (SAN.FR) is moving to restructure globally, cut jobs and shift resources, the company said Wednesday.

The plan, dubbed Horizon 2020, initially foresees 750 voluntary departures and 80 voluntary transfers in France by the end of 2020, as well as the recruitment of 250 more employees. Sanofi said it has increased needs in data protection, artificial intelligence, bio-manufacturing and other fields. Because some the departures would be buyouts, numbers may fluctuate, a company spokesman said.

The spokesman declined to comment on more layoff plans globally, but confirmed the restructuring effort will be world-wide.

News of the restructuring was first reported by French weekly Le Journal du Dimanche. AFP reported more details Wednesday, and suggested layoffs could involve the U.S. and German market, among others.

 

Write to Donato Paolo Mancini at donatopaolo.mancini@dowjones.com

 

(END) Dow Jones Newswires

December 05, 2018 12:47 ET (17:47 GMT)

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