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Spanish company Grifols to lay off 2,300 employees in bid to cut costs

Grifols

Spanish pharmaceutical giant Grifols is poised to cut about 2,300 employees or 8.5 percent of its headcount.

The move comes as part of a plan to save $427 million annually.

The company uses blood plasma to make medicines and said in a statement it would cut 2,000 jobs in the United States this year.

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The firm said it would axe 2,000 US employees in its plasma division this year.

The company hopes to build a "more efficient" platform for obtaining plasma and also to reduce expenses.

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It will also lay off 300 staff, mostly in the United States but also in Spain, in an effort to "rationalize its corporate functions."

It will include centralizing and automating workflows. 

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A spokesperson said the job cuts would take place this year.

Grifols has been battling to recoup from the major hit to its business during the pandemic when blood collection in many countries was suspended.

Plasma shortfalls hurt Grifols' business in 2020 and 2021, as blood collection crashed globally during the Covid-19 surge.

The company employs around 27,000 people across 30 countries, with the United States standing as its primary market.

It employs around 4,300 people in Spain.

Source: Reuters

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