Friday, June 12, 2009

MerckSchering-Plough's 16,000 job losses

Merck, the pharmaceutical group, said Wednesday that 16,000 jobs would be lost as it joined its operations with its rival Schering-Plough, the French daily La Tribune reported.

Together, the combined company will employ about 90,000 people, or 15 percent less than the two firms did apart, the newspaper said.

Merck announced in March the acquisition of Schering-Plough for $41.1 billion, creating a pharmaceutical giant second only to Pfizer.

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