A&D Pharma lays off several hundred employees

A&D Pharma, the largest group in the Romanian pharmaceutical industry, will start a restructuring process which entails laying off several hundreds of people by the end of the year, according to market sources. The reorganisation of the business comes after the company’s profit was down 92% in the first six months of the year and its shares traded on London Stock Exchange have dropped in value by about 83% since the beginning of the year. “The company is reorganising some of its business processes in order to operate efficiently and with optimal costs. The reorganisation will be conducted over the next few months, with some positions in the company being affected, especially in the wholesale division, as well as support positions. Employees in these positions will be offered alternative jobs within the company, to the extent the structure allows it. If this is not possible, employees’ contracts will be terminated through a mutual agreement, and they will receive severance pay, depending on the length of employment within the company. They will also be offered support to find new jobs,” said A&D Pharma representatives.