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 pharmaceutical group Sanofi has announced a restructuring plan for its French activities that will lead to about 657 job cuts. In fact, about 1100 positions will be cut, but about 443 positions are currently unoccupied. Therefore, the number of employees affected is about 657, slightly over 2% of the workforce employed in France (27,000 employees in France /110,000 worldwide).
The management wants to create a voluntary departure plan consisting mainly of an early-retirement scheme financed by Sanofi. The company highlights that no plant will be closed and that the plan will not affect the R&D workforce. According to Sanofi, "this new organisation aims to enhance the effectiveness of product launches, to simplify the decision making and to avoid duplication of structures, while ensuring better coherence and strengthening the Group's identity". In November 2015, the CEO announced a cost saving target of about €1.5 billion to increase investments. The group has cut positions in France on a regularly basis the last years, as in 2014, 2012, 2010 and 2008.
Eurofound (2016), Sanofi, Internal restructuring in France, factsheet number 86366, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/86366.