Exclusive: Sanofi planning to cut up to 1,680 jobs in Europe
By Matthias Blamont
PARIS (Reuters) - Sanofi said Friday that it plans to cut 1,680 jobs in Europe, confirming what two sources familiar with the matter previously told Reuters.
A source said the cuts would take three years. The sources declined to be identified because the plan had not been officially announced.
Reuters reported Thursday that Sanofi is considering cutting hundreds of jobs and discussing possible steps with HR representatives on Friday and June 29.
According to a source, Sanofi would focus on efficiency gains through increased digitization and IT outsourcing.
The plans are part of a broader strategy outlined by the group's managing director, Paul Hudson, who joined Sanofi in September last year, in December.
In December, Sanofi announced that it had targeted $ 2 billion ($ 2.24 billion) in cost savings by 2022.
(Reporting by Matthias Blamont; writing by Josephine Mason; editing by Jason Neely and Jan Harvey)
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