Restructuring events
European Restructuring Monitor (ERM)
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.
The French pharmaceuticals group Sanofi-Aventis has announced that it is to cut up to 471 jobs (between the half of the total employees and 471 jobs according to the unions and the direction) at its production plant in the French city of Vitry-sur-Seine (south-east of Paris) in order to turn the site into a biotech manufacturing facility specialized in cellular therapy. The site will, however, retain the production of antineoplastic. The Group will invest 100 million-euro in this project, and some employees affected should avail of early retirement, or internal redeployment.
This restructuring, the biggest since the merger in 2004, will last until 2012 and relocate the production of drugs to the group’s other manufacturing outposts in France, Germany and Italy. Moreover, if the management foresees some job creation (about 106) within the new site, there will also be the loss of some 300 jobs among subcontractors.
Eurofound (2008), Sanofi-Aventis, Internal restructuring in France, factsheet number 66470, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/66470.