Abbott says no job cuts in India due to Solvay integration

The company had last week announced to slash 3,000 jobs in Europe as it plans to streamline operations after its USD 6.2 billion acquisition of the pharmaceuticals unit of Belgium–based Solvay in February.

"We don't expect much, if any, impact in India as a result of integrating Solvay Pharmaceuticals and anticipate our presence in India will continue to grow," Abbott spokesperson Scott E Stoffel said in an e-mailed interview.Instead, the company may increase its headcount in India following its USD 3.72 billion acquisition of Piramal's formulation business.

"Abbott now has more than 10,000 employees in India, our largest employee base outside the US, and we expect to hire a considerable number of people in the coming years to support our strong growth in this important market," Stoffel said.

The company said that the integration process of Solvay won't have any affect on the over 5,000 employees it had inherited following its deal with Piramal."The integration of Solvay has no impact on employees acquired as part of the Piramal acquisition. We have no plans to make changes to Piramal's Healthcare Solutions employees," Stoffel said.

Abbott's acquisition of Solvay gave it access to markets including Eastern Europe, Latin America, and the Middle East.It employs a total of almost 90,000 people. It is cutting jobs in manufacturing, commercial operations, research and development, and staff functions.
Most of the jobs that will be eliminated are based in Europe, and almost all of them are part of Solvay's operations.

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