Posted by: tria6027
Tags:
Merck
Posted date:
August 2, 2011
To further slim its budgetary waistline, Merck & Co., has announced plans to cut up to 13,000 jobs by the end of 2015, with up to 40% of reductions scheduled to occur in the US.
These cuts are in addition to the 17,000 staff that had already been let go as a result of prior cost-cutting measures. The company disclosed that this new round of layoffs will save an additional $1.3 billion to $1.5 billion annually, on top of the expected $3.5 billion in annual savings expected by the end of 2012. The numbers are still vague, as was the laundry list of departments that might suffer.
