Merck to cut a further 8,500 jobs
Merck announced yesterday that it is to cut a further 8,500 jobs. This move is an attempt to cut $2.5bn from its costs by 2015.
In 2011 and 2012, 7,500 job cuts were announced, these latest cuts will mean the company has reduced its workforce by 20%.
Following the announcement, Merck’s shares rose 2.35% to $48.73 in New York trading.
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