Boehringer job cuts in Germany

Boehringer Ingelheim is planning between 500 and 600 job reductions in Germany. The cuts come just a few weeks after the company announced its sales had dropped 3% in the first 6 months of the year and full-year results would likely be down slightly from last year. The company plans to complete the layoffs by the end of 2016, reducing costs in Germany by 15%, or about €450 million ($580 million), according to a statement acquired by Reuters. About 14,000 of Boehringer's total workforce of 47,500 are employed in Germany.