Sanofi announces 480 layoffs in Frankfurt Höchst

France-based group Sanofi announced on Wednesday it will reduce the staff at Frankfurt Höchst site by cutting 480 jobs. 200 of these layoffs will affect employees with temporary contracts, which will not be renewed after expiration. 400 cuts out of 480 will affect production (insulins and other biologic drugs), while the rest will especially affect the IT department. The measure is aimed at implementing the price cut plan and at modernizing some production lines now requiring fewer staff, Sanofi informed. Frankfurt Höchst site employs 7,500 people, 5,300 of whom in production and the rest in R&D, IT, MKT and administration. (Source Frankfurter Allgemeine Zeitung)