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Merck & Co Inc Announces Workforce Reductions

Tuesday, 1 Oct 2013 07:45am EDT 

Merck & Co Inc announced that by the end of 2015, the workforce reductions, combined with pending, previously announced reductions of approximately 7,500, will result in a decrease of about 20% in Merck's total global workforce of 81,000 employees. Total pre-tax costs for the new restructuring program are estimated to range between $2.5 billion and $3.0 billion. The Company estimates that approximately two-thirds of these costs will result in cash outlays, primarily related to separation expense, and approximately one-third are non-cash, primarily related to accelerated depreciation of facilities to be closed or divested. 

Company Quote

-1.52 -2.75%
4:03pm EDT