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Merck Layoffs: MRK to Cut Another 600 Jobs

Plenty of sales reps around the country will be unemployed

By Karl Utermohlen, InvestorPlace Writer


Merck (MRK) is continuing to cut down on costs by eliminating 600 more jobs.

MerckThe pharmaceutical company is getting rid of 600 sales representatives from around the country. The new round of Merck layoffs follows a massive retrenchment that began nine months ago when the company laid off 8,500 workers.

The October layoffs were announced as part of a plan to trim company costs by $2.5 billion. A number of facilities and research projects were eliminated when the move was made.

Merck will now have eliminated about 10% of its 81,000-person workforce with the new round of layoffs.

MRK stock is down about 0.1% Friday afternoon.

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Article printed from InvestorPlace Media, https://investorplace.com/2014/07/merck-layoffs-mrk/.

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