Wednesday, Oct 22, 2008
Drugmaker will eliminate more than 10% of its work force to cut costs
cnn: Merck to cut jobs as profit sinks 28%
The new restructuring program announced Wednesday aims to eliminate about 7,200 jobs, 400 of them currently vacant, across the company worldwide by the end of 2011. As part of the program, Merck will streamline management layers by eliminating about 25% of senior and mid-level executives. The company currently has a total of about 56,700 employees.
The new job cuts come on top of a massive 2005 restructuring program, just about completed, that eliminated 10,400 jobs.
Posted by mark @ 01:59 PM (134 views) Add Comment
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