The economic slump has inflicted a sharp financial blow on its Materials Science company but has so far left Life Sciences relatively unaffected.
Nonetheless, the job cuts, which represent 5 per cent of the workforce, will hit the entire company, and not only those businesses that are struggling at present. The total savings are expected to be up to €100m a year, to be fully achieved in 2010.
The one-time cost is expected to be around €50m, of which €20m will show as an exceptional item in the Q4 results.