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Sanofi plans 670 job cuts in France by end 2020

Stock MarketsDec 05, 2018 11:40AM ET
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© Reuters. The logo of Sanofi is pictured during the Viva Tech start-up and technology summit in Paris

PARIS (Reuters) - French drugmaker Sanofi (PA:SASY) told unions on Wednesday it was planning to cut 670 jobs in France, a union representative told Reuters.

The plan, which is to be set on a voluntary basis, would affect human resources, IT, and finances among others, Thierry Bodin, with the CGT union said. In addition, 80 IT jobs are to be outsourced, he said.

The group had said in September it would continue to implement cost savings after having reached a 1.5 billion euros ($1.70 billion) cost reduction target a year ahead of expectations.

A Sanofi spokesman confirmed the company's intention to shed 670 jobs out of a 25,000 workforce in France and said the plan was to be completed by the end of 2020.

Sanofi plans 670 job cuts in France by end 2020
 

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