28/06/2013

ESTEVE REACHES AGREEMENT WITH WORKERS AND CUTS DOWN RIF PLAN FROM 225 TO 185 EMPLOYEES

The Board of Directors of Laboratorios Dr. Esteve, S. A. (LDE) ―i.e. the society that brings together the pharmaceutical activity of the Group― and the Worker's Representatives have reached an agreement on the Reduction in Force (RIF) Plan, announced last 27 May, whereby the number of people affected by this measure is reduced from initially foreseen 225 down to 185. This 40-people reduction has been possible thanks to the adjustments in the working conditions of all Esteve collaborators, and to the efforts and willingness to dialogue of both parties.

Downsizing falls within the reorganization of the Company's pharmaceutical activity, by force of circumstances, and includes both adapting LDE's dimension to new market realities and implementing a new strategic plan that is now evolving positively. Both measures are intended to make up for the severe impact of the successive layoffs in the sector and to get the company back on growth path to ensure future competitiveness and sustainability.

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