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 21.10 - Manufacture of basic pharmaceutical products
1,680 jobs Number of planned job losses
Announcement Date
26 June 2020
Employment effect (start)
1 September 2020
Foreseen end date
30 September 2023
Description
The French pharmaceutical giant Sanofi has announced a restructuring plan for its R&D activities and support functions that will result in 1,680 jobs cuts in the next three years in Europe, mainly in France where 1,000 job cuts are expected. The job reductions will affect support functions, sales and research-related platforms. No plant closures are to be expected. This plan, which will be spread over three years, is not linked to the consequences of Covid-19. It corresponds to a new strategy announced in December 2019. The aim is to make €2 billion in savings and to concentrate on a few promising niches. On the agenda: the end of research in diabetes, one of its traditional core businesses, as well as in the cardiovascular field. A worldwide restructuring was recorded in 2011 (1,400 to 3,000 job cuts in R&D, announced in 2011).
Eurofound (2020), Sanofi, Internal restructuring in European Union, factsheet number 101090, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/101090.
Digitisation and automation technologies, including artificial intelligence (AI), can affect working conditions in a variety of ways and their use in the workplace raises a host of new ethical concerns.
The retail banking sector is fertile ground for studying the impacts of digitalisation on work and employment. Financial services are increasingly provided online, without the intermediary of customer-facing institutions.
European labour markets have recovered strongly from COVID-19. By the end of 2021, little more than 18 months after the start of the pandemic, employment rates in the EU were almost at pre-crisis levels.
