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.
Pharmaceutical company Sanofi is reported to cut around 800 jobs in Germany by the end of 2022. The job cuts are part of a larger restructuring programme undertaken by its French parent company. The company also announced it would cut nearly 1,700 jobs in Europe with around 1,000 jobs to be lost in France. In Germany, the site in Frankfurt with some 7,200 employees will have to deal with the majority of job losses - mostly in the research and development department. In addition, the marketing and sales department in Berlin will also have to reduce personnel. Job cuts in Germany are to be realised without dismissals due to operational reasons. In part, the restructuring is attributed to the decline the cost of diabetes medication.
Eurofound (2020), Sanofi, Internal restructuring in Germany, factsheet number 101219, European Restructuring Monitor. Dublin, https://apps.eurofound.europa.eu/restructuring-events/detail/101219.
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