Ratiopharm to axe 600 jobs
Germany's second largest generics manufacturer Ratiopharm is to cut approximately 600 positions over the next 12-18 months, including some 200 in its home country, in a drive to increase its competitiveness.
Germany's second largest generics manufacturer Ratiopharm is to cut approximately 600 positions over the next 12-18 months, including some 200 in its home country, in a drive to increase its competitiveness.
The company, which has recently been put up for sale, is looking to reduce its costs by around Euro 100m through a series of measures. The company started its "ONE ratiopharm" cost-cutting programme in October 2008 and said then that the programme would entail job cuts.
Ratiopharm's two largest subsidiaries outside Germany are located in Canada and in the Netherlands. The company has operations in 25 countries. It is not yet known which subsidiaries are likely to be affected by the measures. The group employs 5,400 people, including 2,850 in Germany.
However, the cuts are unlikely to affect the company's 300 sales force in Germany, nor its two production facilities in Ulm and Blaubeuren.