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Johnson & Johnson: On 13 June, the pharmaceuticals group accepted the offer made by the private equity investment firm Platinum Equity, announced on 16 March, to purchase its LifeScan business for 2.1 billion dollars. LifeScan is a player in the market for self-monitoring of blood glucose (diabetes control). The operation should be finalised by the end of 2018. On 20 May, the company’s European Works Council issued a negative opinion regarding this operation. The opinion firstly reminds the group of its “Credo”, issued in 1943 to express its values. In particular, this states that employees ”must have a sense of security in their jobs” and that the group “must be mindful of ways to help our employees fulfill their family responsibilities”. Accordingly, the European Works Council emphasises that management cannot merely rely on implementing the minimum provisions laid down by law to manage the consequences of this operation. It also invites Johnson & Johnson, as part of the deal, to include the initiation of a negotiation process with Platinum Equity aimed at setting up a European Works Council, given the size of its workforce in the Union (16,000 employees). While the Council believes that this purchase represents a good opportunity for development, it also highlights the uncertainties faced by the 1362 employees in the EU (total workforce worldwide: 2,339), especially those working for bodies that do not constitute a distinct legal entity, such as LifeScan. In its three-page opinion, the committee concludes that it appears to be difficult to remove these employees from their eco-system. “The deal is now concluded”, says Gijs Laureys, “but we still haven’t had any response to our opinion. We don’t have much of an impact on the decision-making process”.
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