Merck to Make Further Job Cuts

As part of the next phase of its restructuring programme, Merck expects to reduce its workforce by an additional 12 to 13% by the end of 2015.

Merck & Co is to cut a further 13,000 jobs as the US pharmaceuticals manufacturer responds to generic competition and other challenges by expanding resources in emerging markets.

Merck says it remains on track to achieve its goal of US$3.5bn in annual cost savings by the end of 2012, but will "more aggressively reduce its cost structure".

As part of the next phase of its restructuring programme, the company expects to reduce its workforce by an additional 12 to 13% by the end of 2015.

"Merck is taking these difficult actions so that we can grow profitably and continue to deliver on our mission well into the future," said chief executive Kenneth Frazier.