Sanofi Faces Scrutiny Over Layoff Plans; French Finance Minister Urges Clarification

French pharmaceutical giant Sanofi confirmed its layoff plan this week, sparking widespread concern across France. On the 20th, French Minister of Economy and Finance Bruno Le Maire urged Sanofi to provide clarification on the matter.

Sanofi’s layoff plan announced this week shows that the company will cut 400 jobs in its R&D department in France over the next three years and eliminate more than a thousand positions across Europe, with the layoffs set to begin this year. On the 19th, labor unions held strikes and demonstrations in France to protest the layoff plan.

French Minister of Economy and Finance Le Maire stated on the 20th that Sanofi is France’s “industrial flagship” and one of the world’s leading pharmaceutical companies. He pointed out that it is necessary for Sanofi to clarify its plans, including layoffs.

Lemaire stated that Sanofi should clarify three related matters: first, Sanofi should confirm that no plants will be closed; second, there should be no further layoffs under the restructuring plan; and third, Sanofi should confirm its research and development strategy in France.

Lemair believes that the choices made by Sanofi seem wise to him, such as the company's future focus on developing drugs with "high added value" for treating cancer and tumors. However, Sanofi should clarify its relevant research and development plans in France for the coming years.

Lemaire also commented on Sanofi’s COVID-19 vaccine development efforts, noting that Sanofi’s COVID-19 vaccine will be released by the end of this year and will help advance the fight against the pandemic. Sanofi’s laboratories are currently still developing two COVID-19 vaccines, but the release of the vaccines has been delayed until the end of this year.

Sanofi had previously announced a €2 billion cost-cutting plan to be implemented by 2022, which included halting certain research programs in areas such as diabetes and cardiovascular diseases. The labor unions expressed dissatisfaction with the cost-cutting measures, arguing that reducing expenditures during the pandemic could hinder the progress of vaccine development.

Latest epidemic data released by the French Ministry of Health shows that France reported 23,608 new confirmed cases on the 19th, bringing the total number of confirmed cases to 2,938,333. The current number of deaths from COVID-19 in France stands at 71,342, with 656 new deaths reported. There are currently 25,567 hospitalized patients with COVID-19 in France, including 2,839 severe cases. (End)