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.
On 6 December 2010, the management of the pharmaceutical company Sanofi Aventis announced its intention to cut 575 jobs in France before summer 2011. According to the announcement 478 pharmaceutical sales representatives from a total of 1860, and 78 employees of other commercial services will lose their jobs. Management will use its early retirement schemes and the transfer of employees elsewhere within the group to try to avoid compulsory redundancies. Currently Safoni Aventis has 28,000 employees in France and 100,000 globally. Two years ago the company cut 927 positions in its commercial services. The company has less need for pharmaceutical sales representatives because it sells higher volumes to hospitals and will maintain only 1,300 positions in this area of activity compared to 2,500 in October 2008.
Eurofound (2010), Sanofi Aventis, Internal restructuring in France, factsheet number 71296, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/71296.