U.S. pharmaceutical giant Merck said it would cut 13,000 jobs
NEW YORK, July 30 (UPI)
Merck announced earlier it would cut 20,000 redundant jobs after its purchase of Schering-Plough in a $41 billion deal, The New York Times reported Saturday.
In the latest round of cuts, the firm said between 35 percent and 40 percent would be U.S. jobs. Similar to other U.S. firms, Merck said the cuts did not apply to its operations in China, where it would be adding jobs.
This week, medical device maker Boston Scientific announced it would lay off 1,400 workers, but hire 1,000 in China.
Pharmaceutical industry analyst Eric Gordon at the University of Michigan's Ross School of Business said, "the pharma industry is starting to look a lot like the auto industry."
Since January 2000, U.S. drug companies have eliminated 299,046 jobs, employment research firm Challenger, Gray & Christmas said.
Read more: http://www.upi.com/Business_News/2011/07/30/Merck-to-cut-13000-jobs/UPI-27281312034540/#ixzz1cYhh9hhU
Merck announced earlier it would cut 20,000 redundant jobs after its purchase of Schering-Plough in a $41 billion deal, The New York Times reported Saturday.
In the latest round of cuts, the firm said between 35 percent and 40 percent would be U.S. jobs. Similar to other U.S. firms, Merck said the cuts did not apply to its operations in China, where it would be adding jobs.
This week, medical device maker Boston Scientific announced it would lay off 1,400 workers, but hire 1,000 in China.
Pharmaceutical industry analyst Eric Gordon at the University of Michigan's Ross School of Business said, "the pharma industry is starting to look a lot like the auto industry."
Since January 2000, U.S. drug companies have eliminated 299,046 jobs, employment research firm Challenger, Gray & Christmas said.
Read more: http://www.upi.com/Business_News/2011/07/30/Merck-to-cut-13000-jobs/UPI-27281312034540/#ixzz1cYhh9hhU
