Thursday, October 21, 2021

France, unions push Sanofi for no layoffs during cost-cutting drive: report

Sanofi CEO Paul Hudson’s restructuring plan for the French pharma includes job cuts, but local government officials and union members aren’t fans of the idea.

The French government has drawn a line in the sand, saying Sanofi won’t lay off employees or close facilities, French Finance Minister Bruno Le Maire told RTL radio, Reuters reported.

In response, Sanofi said in a statement, “We always stated since our plan has been made public last summer 2020 that departures would be voluntary.”

Launch Readiness

Optimize cross-functional collaboration and engage with key stakeholders for the successful launch of a product

Join the Launch Readiness for Medical Affairs & Communications Teams Summit to learn best practices in taking a structured approach to enhance medical affairs activities surrounding a launch and increase knowledge and communication with thought leaders.

RELATED: Sanofi weighs job cuts as part of CEO Hudson’s ‘roadmap’: Reuters

Back in June, Sanofi put out a plan to cut loose 1,680 jobs in Europe, the newswire reported at the time. Of those, some 1,000 jobs would fall in France, a source told Reuters. It’s part of Hudson’s cost-cutting strategy, which involves €2 billion in annual savings by 2022.

Voluntary buyouts or forced layoffs, the job cuts are not welcomed by some Sanofi employees.

Tuesday, unions at the French pharma rallied a one-day strike at various sites, including at the Marcy l’Etoile R&D facility where Sanofi’s developing a COVID-19 vaccine, the Associated Press reported.

Some 200 workers were seen with union flags and megaphones gathered outside the lab. They argued that the planned job cuts could slow the fight against the pandemic, according to AP.

RELATED: Weak clinical data force Sanofi, GSK to delay COVID-19 vaccine

The revamp could touch upon several divisions of Sanofi but not the vaccines and rare diseases units, Reuters previously reported, quoting anonymous sources. The cuts will mainly affect blue-collar workers, a Sanofi spokesperson said at the time.

Union members at Sanofi also plan to participate in larger demonstrations Saturday in France against job cuts during the pandemic, AP reported.

Sanofi’s GlaxoSmithKline-partnered COVID-19 vaccine program recently suffered a major setback. In December, the company postponed its timeline for a potential vaccine rollout to late 2021 from the previous expectation of the first half of this year. It came after interim results from a phase 1/2 trial showed insufficient response in people over the age of 50.

The French pharma’s planning to launch a phase 2b study with an optimized candidate in February. The study will try to compare the immune response elicited between the new vaccine formula and an authorized shot.

Editor’s Note: Eric Sagonowsky contributed to reporting.

Source link

Latest Articles

Widely used chemical linked to 1,00,000 US deaths per year: Study

NEW YORK: Daily exposure to phthalates, a group of chemicals used in everything from plastic containers to makeup, may lead to approximately 100,000 deaths...

Foods to Reduce Inflammation and Strengthen the Immune System

Did you know that you can greatly reduce inflammation and boost your immune system by simply incorporating more anti-inflammatory foods and beverages into your...

Personal Selling

INTRODUCTION Early sellers and traders were not held in high esteem. The Roman word for salesman meant ‘Cheater’ and...

Building Muscle on a Vegan Diet

There are a lot of  misconceptions surrounding veganism. The notion that those who practice it are lacking in protein and therefore muscles is the...

Electrodes in brain new hope for severe cases of epilepsy

Neurosurgeons at All India Institute of Medical Sciences have devised a new technique for operating on children suffering from a severe form of epilepsy...