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 - Manufacture of basic pharmaceutical products and pharmaceutical preparations
1,800 jobs Number of planned job losses
Announcement Date
8 December 2003
Employment effect (start)
1 January 2004
Foreseen end date
Description
Aventis, the Franco-German pharmaceutical group, could close half of its production sites worldwide. As of 2004, measures will be taken in order to stimulate company growth, cutting costs by 500 million euros per year till 2006. In the framework of this restructuring plan, 1.800 jobs could be affected in France, out of the 13.000 people presently employed by the company. Slowing of sales in the US market and changing health policies in France and Germany explain the financial difficulties the group is facing.
Sources
9 December 2003: Les Echos
Citation
Eurofound (2003), Aventis, Internal restructuring in France, factsheet number 59912, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/59912.
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