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Sanofi Plans To Cut 1,700 Jobs In Europe

Sanofi (SNYNF,SNY) is planning to axe 1,700 jobs in Europe, German news agency dpa reported, quoting AFP. About 1000 jobs in France could be affected by this, the report cited Sanofi France president Olivier Bogillot

The job cut would be carried out over three years. The action is not influenced by coronavirus pandemic, but as part of a new corporate strategy, the report said.

In mid of June, Sanofi had said that it would invest 610 million euros in French vaccine research and production. The announcement had come after French President Emmanuel Macron visited a Sanofi plant in the Lyon region.

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