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 21.1 - Manufacture of basic pharmaceutical products
490 jobs Number of planned job losses
97 jobs Number of planned job creations
Announcement Date
22 February 2014
Employment effect (start)
25 May 2014
Foreseen end date
31 December 2015
Description
Pharmaceutical company Merck Sharp and Dhome (MSD) has announced to cut 385 of 1,297 staff at its French headquarters close to Courbevoie. This will mainly affect positions in support and sales functions. The group will additionally cut 105 positions that are currently not occupied. Furthermore, it will also recruit 97 additional employees.
The restructuring is part of a global plan, announced in October 2013, to reduce the company’s global workforce by 8,500 positions by the end of 2015 (see ERM report). Furthermore, the management highlights the impact of the loss of several patents in France and the strong regulation of retail pharmacies.
According to new regulations on restructuring, the first employment effect may occur by May or June 2014.
MSD is headquartered in the US. The group employs currently about 3,000 employees in France.
Sources
22 February 2014: Les Echos
Citation
Eurofound (2014), Merck Sharp and Dohme (MSD), Internal restructuring in France, factsheet number 76642, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/76642.
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