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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

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Financials (€)
Sales 2017 36 340 M
EBIT 2017 9 641 M
Net income 2017 7 849 M
Debt 2017 5 108 M
Yield 2017 3,63%
P/E ratio 2017 13,62
P/E ratio 2018 17,73
EV / Sales 2017 3,05x
EV / Sales 2018 2,97x
Capitalization 106 B
Duration : Period :
Sanofi Technical Analysis Chart | SAN | FR0000120578 | 4-Traders
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Average target price 86,5 €
Spread / Average Target 3,2%
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Elias A. Zerhouni President-Global Research & Development
Yong-Jun Liu Head-Global Research & Development
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