Notice: Function _load_textdomain_just_in_time was called incorrectly. Translation loading for the wordpress-seo domain was triggered too early. This is usually an indicator for some code in the plugin or theme running too early. Translations should be loaded at the init action or later. Please see Debugging in WordPress for more information. (This message was added in version 6.7.0.) in /var/www/html/wp-includes/functions.php on line 6260 Merck To Cut 7,200 Jobs | Contract Pharma

What are you searching for?

Sign in
Breaking News

Merck To Cut 7,200 Jobs

Author Image

By: Tim Wright

Editor-in-Chief, Contract Pharma

Merck plans to eliminate 7,200 jobs by the end of 2011 as part of a new restructuring program aimed at lowering overhead and becoming more competitive. As part of the program, Merck will streamline management layers by eliminating about 25% of senior and mid-level executives. The company currently employs about 56,700 people. The new job cuts are in addition to the 2005 restructuring program that eliminated 10,400 jobs.
   
According to a company statement, the new job cuts are expected to produce savings of $3.8 billion to $4.2 billion from 2008 to 2013 and will cost between $1.6 billion and $2.0 billion through the end of 2011, when the program is expected to be complete.

Add us as a preferred source on Google

Get the latest Contract Pharma news, insights and analysis in your Google Search and AI experiences.

Add Contract Pharma as a preferred source on Google (opens in a new tab)

Keep Up With Our Content. Subscribe To Contract Pharma Newsletters