It has been reported by the newspaper Le Figaro that Sanofi plans to cut 1,000-2,000 jobs in France.

Citing unnamed sources, the daily claims that the move will affect research, manufacturing at the Sanofi Pasteur vaccines unit and certain support operations at the drugmaker's headquarters in Paris. A Sanofi spokesman declined to comment on the report but confirmed to Le Figaro that a meeting with the works council was due to take place today (Thursday) when the issue of employment in France would be discussed.

The newspaper claims that Sanofi had already cut 4,000 French jobs between 2009 and 2011. The firm has been undergoing major restructuring over the last few years and most recently (in March), it unveiled plans to close a manufacturing facility in Newcastle, UK, which will see the loss of around 450 jobs.

Sanofi sells stake in Yves Rocher

Meantime, Sanofi has revealed it is divesting its 19.3% stake in the Yves Rocher Group, which operates in a variety of sectors, including cosmetics, home care products and clothing.

It is selling to the Rocher family which already controls most of the company and its stake will now rise to more than 95%. No financial terms have been disclosed.