News outlets are reporting plans to cut 1000-2000 employees in France

According to French daily newspaper Le Figaro, Sanofi is planning to cut 1000–2000 jobs in France. The company is apparently looking to reduce headcounts in R&D, manufacturing at the vaccines unit and various support activities. It has declined to comment on the rumours – the newspaper cites unnamed sources – but told Reuters that on Thursday it would hold a meeting with the company works council during which employment in France would be discussed.

Earlier this month, Sanofi announced plans to sell a 19% stake in cosmetics firm Yves Rocher for an undisclosed amount.