Arab Today, arab today merck eliminate8500 jobs worldwide
Last Updated : GMT 05:49:56
Arab Today, arab today
Arab Today, arab today

Cut costs by $2.5bn by the end of 2015

Merck eliminate 8500 jobs worldwide

Arab Today, arab today

Arab Today, arab today Merck eliminate  8500 jobs worldwide

Merck is based New Jersey and has global workforce of 81000 employees
New Jersey - Arab Today

Merck is based New Jersey and has global workforce of 81000 employees US pharmaceutical giant Merck said Tuesday it would eliminate an additional 8,500 jobs worldwide as it seeks to cut costs by $2.5 billion by the end of 2015. The new job cuts, combined with previously announced cuts of about 7,500, will slash 20 percent of the current global workforce of 81,000 by end-2015, Merck said in a statement.
The company, which has been under pressure after the expiration of patents on some key drugs, said that most of the savings will come from marketing and administrative expenses, and research and development (R&D).
Merck said it expected to achieve $1.0 billion, or 40 percent of the targeted savings, by the end of next year.
\"These actions will make Merck a more competitive company, better positioned to drive innovation and to more effectively commercialize medicines and vaccines for the people who need them,\" said Kenneth Frazier, Merck chairman and chief executive, in the statement.
Frazier emphasized the company was committed to improving performance in the short term while also investing for the long term to create value for patients, customers and shareholders.
The multi-yearn restructuring is aimed at sharpening the company\'s commercial and R&D focus, including boosting the drug development pipeline and creating a more flexible cost structure.
Resources will be directed to areas with the highest potential for growth, such as the anti-PD-1 immunotherapy program for oncology, the company said, while maintaining a focus on its core pharmaceutical and vaccine business.
Total pre-tax costs for the overhaul were estimated between $2.5 billion and $3.0 billion. The company planned to take charges for the new restructuring program of $900 million to $1.1 billion in 2013, most of them in the third quarter.
Merck, based in Whitehouse Station, New Jersey, said it would increase its focus in 10 markets that account for the majority of revenue in its core business -- the US, Brazil, Britain, Canada, China, France, Germany, Japan, Russia and South Korea.
The company confirmed its full-year 2013 earnings forecast, with earnings per share in a target range of $3.45 to $3.55, excluding exceptional items.
In the second quarter, Merck reported net earnings of $906 million, half of the year-ago income.
Shares in Merck were up 2.2 percent at $48.56 in early trade Tuesday on the New York Stock Exchange.
Source: AFP

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today merck eliminate8500 jobs worldwide Arab Today, arab today merck eliminate8500 jobs worldwide

 



Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today merck eliminate8500 jobs worldwide Arab Today, arab today merck eliminate8500 jobs worldwide

 



Arab Today, arab today France defies terrorism through tourism

GMT 15:18 2017 Saturday ,20 May

France defies terrorism through tourism
Arab Today, arab today Zainab Fadel Oglu designs “Shakerin” mosque

GMT 12:13 2017 Thursday ,11 May

Zainab Fadel Oglu designs “Shakerin” mosque
Arab Today, arab today Seeks to move past rift with Israel

GMT 08:00 2017 Monday ,08 May

Seeks to move past rift with Israel
View News in Arabic - Business: أخبار الأعمال
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Mozambique's gas boom dream under threat

GMT 16:29 2017 Monday ,08 May

Mozambique's gas boom dream under threat
Arab Today, arab today Prepares to give stargazers an eyeful

GMT 13:38 2017 Monday ,06 March

Prepares to give stargazers an eyeful
Arab Today, arab today Jaguar displays XF Sportbrake line

GMT 14:36 2017 Monday ,08 May

Jaguar displays XF Sportbrake line
Arab Today, arab today BMW sees forecasts in reach

GMT 09:04 2017 Thursday ,04 May

BMW sees forecasts in reach
Arab Today, arab today Climate science: Bad news gets worse

GMT 08:48 2017 Saturday ,06 May

Climate science: Bad news gets worse
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday