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4-Traders Homepage  >  Equities  >  Euronext Paris  >  Sanofi    SAN   FR0000120578

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Sanofi to Cut 1,500-2,000 Jobs in France - Report

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09/15/2012 | 02:11pm CEST

French pharmaceutical giant Sanofi SA (SAN.FR, SNY) will disclose cuts of between 1,500 and 2,000 jobs in France on Sept. 25, French newspaper Le Figaro reported Saturday, without citing sources.

The company plans to reduce its 28,000 payroll in France mainly through attrition, the newspaper said.

In July, Sanofi had said it planned to cut jobs at two French units in a bid to preserve the company's profitability, which has been put at risk by recent patent expirations and the economic recession in most of Europe. The company had said it would detail the job cuts in September.

At the time, French Industry Minister Arnaud Montebourg had criticized the company and said he wouldn't tolerate when profitable companies slash jobs.

A Sanofi spokesman didn't return a phone call seeking comments.

Newspaper Web site: http://www.lefigaro.fr

Write to Inti Landauro at [email protected]

Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stocks mentioned in the article
ChangeLast1st jan.
SANOFI 0.32% 66.33 Delayed Quote.-7.88%
SANOFI 0.48% 66.44 Real-time Quote.-7.53%
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Financials (€)
Sales 2018 35 165 M
EBIT 2018 8 578 M
Net income 2018 5 100 M
Debt 2018 14 885 M
Yield 2018 4,64%
P/E ratio 2018 16,01
P/E ratio 2019 15,00
EV / Sales 2018 2,77x
EV / Sales 2019 2,60x
Capitalization 82 583 M
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Mean consensus OUTPERFORM
Number of Analysts 28
Average target price 77,0 €
Spread / Average Target 16%
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NameTitle
Olivier Brandicourt Chief Executive Officer & Director
Serge Weinberg Chairman
Jérôme Contamine Chief Financial Officer & Executive VP-Finance
Elias A. Zerhouni President-Global Research & Development
Ameet Nathwani Executive Vice President-Medical Affairs
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