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

SANOFI (SAN)

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

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09/15/2012 | 02:11pm CET

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 inti.landauro@dowjones.com.

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

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Financials (€)
Sales 2016 36 745 M
EBIT 2016 9 379 M
Net income 2016 5 255 M
Debt 2016 5 778 M
Yield 2016 4,00%
P/E ratio 2016 16,65
P/E ratio 2017 15,18
EV / Sales 2016 2,79x
EV / Sales 2017 2,82x
Capitalization 96 836 M
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Average target price 81,3 €
Spread / Average Target 8,3%
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Olivier Brandicourt Chief Executive Officer & Director
Serge Weinberg Chairman
Jérôme Contamine Chief Financial Officer & EVP-Finance
Elias E. Zerhouni President-Global Research & Development
Yong-Jun Liu Head-Global Research & Development
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