Merck to Cut More Jobs; Profits Fall

Merck & Co. says that it plans to reduce its global workforce by 12%, eliminating about 7,200 positions, including 6,800 active employees and 400 vacancies, by the end of 2011. Nearly 40% of the reductions will occur in the U.S., Merck says. The company says it will also close three basic research sites at Tsukuba, Japan; Pomezia, Italy; and Seattle, WA by the end of 2009. The cuts are in addition to the 10,400 positions that the company eliminated as part of a restructuring program in 2005, which was completed last September. Merck currently has about 56,700...

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