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Wednesday, October 22, 2008

Merck to lay off 2,700 in U.S. out of 7,200 worldwide

  "Merck expects to eliminate approximately 7,200 positions — 6,800 active employees and 400 vacancies — across all areas of the Company worldwide by the end of 2011.  About 40 percent of the total reductions (6800 x 0.4) will occur in the United States.  
  "To streamline management layers across the Company, Merck will reduce its total number of senior and mid-level executives by approximately 25 percent.  These positions are in addition to the 10,400 positions eliminated as part of the 2005 restructuring program, which was substantially complete at the end of September 2008.  
  "As of Sept. 30, Merck has approximately 56,700 employees," including 12,500 at its research labs and pill factories in central Montgomery County, and other Philadelphia-area sites, where Merck ranks with Lockheed Martin, Comcast and Acme Marets among the biggest private employers..
  Merck layoff statement in its lackluster third-quarter profit report, here.
 
Posted by Joseph N. DiStefano @ 9:56 AM  Permalink | 10 comments
Comments   
  • Comment removed.
  • 0 like this / 0 don't   •   Posted 12:13 PM, 10/22/2008
    What they wont tell you, is they are those jobs are going to India and China. They are slowly shipping all of the R&D jobs overseas. Keep giving them tax breaks though.
    — steakhead
  • 0 like this / 0 don't   •   Posted 12:42 PM, 10/22/2008
    hey steakhead, Merck still pays for the jobs that go to India and China and that is called outsourcing, not "eliminating" as the article says. They are closing sites..and two of them are in Asian Pacific area. There are no jobs to send anywhere, which again is why it is called ELIMINATING. Get your facts straight.
    — smarterthanyou
  • Comment removed.
  • 0 like this / 0 don't   •   Posted 1:07 PM, 10/22/2008
    That's a little wacky, Smedkus. Some of the healthcare business people we've been speaking to -- Ned Moore, CEO at Portico Systems in Blue Bell, for one -- expect they'll get more business no matter who wins, because both McCain and Obama are committed to both expanding healthcare coverage and implementing cost controls, which means more IT spending. There's no question some companies will do better than others, but Big Pharma's profit margins have been closing for years, no matter who's President. Joe D.
    — distefj
  • 0 like this / 0 don't   •   Posted 2:01 PM, 10/22/2008
    smarterthanyou, Do you work PR for Merck? They eliminate jobs here, and then when things pick up they hire them in India. They did it in 04/05.
    — steakhead
  • Comment removed.
  • 0 like this / 0 don't   •   Posted 2:41 PM, 10/22/2008
    yeah i know what jobs went to India. THERE IS NO MERCK OFFICE IN INDIA. Merck pays vendors that offer the services for less then it would cost Merck to do inhouse. Vendors then go to India. The jobs Merkc are cutting are not going to be picked up by a vendor/India due to confidentality.
    — smarterthanyou
  • 0 like this / 0 don't   •   Posted 3:58 PM, 10/22/2008
    they need to stop wasting so much money on animal experiments! that's money down the drain. if people would only eat healthy, half of their woe's would disappear but you love fatty foods, go have a cardiac then.
    — tulipwalk
  • 0 like this / 0 don't   •   Posted 7:54 AM, 10/23/2008
    Worked at Merck for 10 years. Was not laid off but left on my own accord. The climate went from a great place to work to a cut throat back stabbing environment where people were constently looking over their shoulders to see if they were getting the pink slip. The company is being managed into the ground.
    — dawggone


10 comments
About Joseph N. DiStefano
Joseph N. DiStefano writes this blog to feed his PhillyDeals column in the Philadelphia Inquirer. Joe has been a member of Bloomberg LP’s New York Finance Team, wrote the book “Comcasted,” taught writing at St. Joseph’s University, and studied economics and history at Penn. Reach Joe at 215-854-5194 and JoeD@phillynews.com
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