Stada celebrates workforce cuts after selling Russian plants
This article was originally published in Scrip
German generics firm Stada has sold two of its Russian production plants, Makiz Pharma in Moscow and Skopin Pharmaceutical Plant, Ryazan, in a partial management buy-out. The disposals have cut Stada's workforce by 386 employees, a fact that the company trumpeted as having enable it to meet ahead of schedule "a significant restructuring goal" of its 2010 "Build the Future" programme: it has now cut its personnel by 10%, or around 800 full-time positions, ahead of the target of the end of 2013.
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