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Merck to cut 10% jobs in Germany
Source: Bloomberg News |
September 5, 2012, Wednesday
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MERCK KGaA, the German maker of the Erbitux cancer drug, plans to cut 10 percent of its domestic workforce as part of a previously announced restructuring plan.
The drugmaker will eliminate 1,100 of its 10,900 positions in Germany by the end of 2015, the Darmstadt-based company said in a statement yesterday, after agreeing on the measures with employee representatives.
Merck said in February that it planned to cut jobs across its drug and chemical businesses after setbacks in developing medicines for cancer and multiple sclerosis.
"We now have a road-map that will position Merck Germany in such a way that the company is prepared for the challenges we will face," Kai Beckmann, the executive board member responsible for human resources said in the statement.
The company will invest 250 million euros (US$315 million) in Darmstadt and other German sites over the next two years, it said.
The drugmaker will eliminate 1,100 of its 10,900 positions in Germany by the end of 2015, the Darmstadt-based company said in a statement yesterday, after agreeing on the measures with employee representatives.
Merck said in February that it planned to cut jobs across its drug and chemical businesses after setbacks in developing medicines for cancer and multiple sclerosis.
"We now have a road-map that will position Merck Germany in such a way that the company is prepared for the challenges we will face," Kai Beckmann, the executive board member responsible for human resources said in the statement.
The company will invest 250 million euros (US$315 million) in Darmstadt and other German sites over the next two years, it said.
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