Stada celebrates workforce cuts after selling Russian plants

German generics firm Stada has sold two of its Russian production plants, Makiz Pharma in Moscow and Skopin Pharmaceutical Plant, Ryazan, in a partial management buy-out. The disposals have cut Stada's workforce by 386 employees, a fact that the company trumpeted as having enable it to meet ahead of schedule "a significant restructuring goal" of its 2010 "Build the Future" programme: it has now cut its personnel by 10%, or around 800 full-time positions, ahead of the target of the end of 2013.