The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21.20 - Manufacture Of Pharmaceutical Preparations
225 jobs Number of planned job losses
Announcement Date
28 November 2023
Employment effect (start)
1 January 2024
Foreseen end date
31 December 2025
Description
The management of Recipharm has announced that it will cease operations at its Monts site during 2025. The gradual decline in production had already led the company to announce a voluntary redundancy plan for 95 employees in April 2023 FR-Recipharm-2023a.
Management has announced its priority to actively seek a buyer for the site. The site had benefited from investment to produce the Moderna vaccine at the time of Covid-19, but currently it is suffering from profitability problems. The group benefited from state aid of €35 million out of a total investment of €50 million. According to Henri Alfandari, the Horizons MP for Indre-et-Loire, as cited by France Bleu Touraine, the group, which only received €15 million, is obligated to reimburse the funds. Given this prospect, an effect on employment is already expected, with natural departures that will not be replaced. The majority of job losses will occur in 2025.
Eurofound (2023), Recipharm Monts, Closure in France, factsheet number 200657, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/200657.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
