News | News By Subject | News by Disease News By Date | Search News
Get Our FREE
Industry eNewsletter
email:    
   

Merck & Co., Inc. (MRK) Slashes 8,500 Jobs to Save $2.5 Billion


10/1/2013 6:58:38 AM

Merck is axing many jobs but others are hiring! Check it out! (Isn't it tempting?)

Merck & Co, taking a cue from other drugmakers that have slashed research spending to bolster earnings, on Tuesday said it plans to cut annual operating costs by $2.5 billion by the end of 2015 and eliminate 8,500 jobs. By slimming down, Merck aims to narrow its focus to products with the best chance of winning regulatory approval and achieving substantial sales, while jettisoning research products with less likelihood of success. The planned job cuts, representing more than 10 percent of the company's global workforce of 81,000 employees, would be in addition to previously announced cuts of 7,500 positions.

Don't forget, hundreds of biopharma companies are hiring! (We know you can't resist.)

Read at Reuters
Read at CNN
Read at USA Today
Read at CNBC
Read at News Release

comments powered by Disqus
Reuters
CNN
USA Today
CNBC
News Release
   

ADD TO DEL.ICIO.US    ADD TO DIGG    ADD TO FURL    ADD TO STUMBLEUPON    ADD TO TECHNORATI FAVORITES