Merck plans to slash 15% of workforce

Merck will phase out operations at eight research sites and eight manufacturing sites over the next two years and continue consolidation of its office facilities worldwide, which are part of its restructuring plan after the merger with Schering-Plough in December last year, it said in a statement on Thursday.

As per a report in The New York Times, Merck plans to lay off around 15,000 people worldwide over the next two years. With these plans announced, Merck expects the initial phases of the merger restructuring programme  would result in savings of around $2.7-3.1 billion in 2012, the statement added.

Merck Research Laboratories’ new restructured network would be comprised of 16 major research and development facilities worldwide.