UPDATE: JULY 18, 2019 — STEALTH LAYOFFS?
It appears that the company is reducing its U.S. headcount — with hundreds of jobs at risk.
Preparatory to layoffs, the company is executing its VEEP strategy.
According to a company spokesperson, “Sanofi US offered a Voluntary Early Exit Program (VEEP) for eligible employees across our organization. We are not disclosing the number of employees who accepted VEEP. As we’ve discussed on our earnings calls, Sanofi has returned to growth and with that, we are continuing to focus on strategically aligning our operations and expenses as to be able to invest in key R&D programs that will deliver important new medicines for patients.”
Sanofi, based in France and one of the world largest multinational pharmaceutical companies in the world, has announced a new round of layoffs in its continuing restructuring program to meet competitive pressures.
Published reports indicate that the new round of workforce adjustments will result in at least 400 layoffs in their United States sales force, mostly involved with Sanofi’s diabetes and cardiovascular products.
It is no secret that drug-makers are being subject to expiring protections on lucrative proprietary drugs, bio-similar compounds, and competitive purchasing pressures from distributors who are kicking back incentives to large institutions. In addition, most drug manufacturers are reducing their direct-to-physician contracts in favor of advertising using both mainstream media and internet channels aimed at a targeted audience.
Of course, the company was quick to employ corporate-speak, using spokesperson Ashleigh Koss to explain that the reduction in force will "enable us to continue to adapt to the ever-changing market, and allow us to focus on our recent launches while setting us up for success in the future.” She could have easily added, “move along, nothing new to see here folks.”
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life, or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?