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Italy May Lose Thousands of Drug-Firm Jobs; Merck & Co., Inc. (MRK), Eli Lilly and Company (LLY) Amongst the Companies Mentioned


7/24/2012 7:31:18 AM

Drug companies in Italy may eliminate thousands of jobs due to government spending cuts, including those introduced this month by Prime Minister Mario Monti, according to a trade group and labor unions. “The consequences for companies are clear: disinvestment, delocalization and a worsening of crises and restructurings,” said Antonio Messina, a delegate of Farmindustria, and Alberto Morselli, general secretary of the FILCTEM-CGIL union, in an open letter to Monti today. “Further crises will inevitably come, with employment consequences in the near future for thousands of workers.”

Read at Bloomberg

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