Sanofi Considers Job Cuts as CEO Seeks to Reduce Costs: Report

Sanofi is considering cutting hundreds of jobs and will discuss potential steps with staff representatives over the coming days, four sources said on Thursday, the latest move by the French drugmaker's chief executive Paul Hudson to cut costs.

Management will hold meetings with staff representatives on Friday and Monday next week to outline a restructuring plan, four sources familiar with the matter told Reuters. They declined to be identified as the plan is still confidential.

Officials with Sanofi had no immediate comment.