{"id":11068,"date":"2011-07-29T15:06:00","date_gmt":"2011-07-29T15:06:00","guid":{"rendered":"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/merck-plans-13k-job-cuts\/11068\/"},"modified":"2011-07-29T15:06:00","modified_gmt":"2011-07-29T15:06:00","slug":"merck-plans-13k-job-cuts","status":"publish","type":"post","link":"https:\/\/www2.stockmarketwatch.com\/stock-market-news\/merck-plans-13k-job-cuts\/11068\/","title":{"rendered":"Merck Plans 13K Job Cuts"},"content":{"rendered":"<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - News Links *\/\ngoogle_ad_slot = \"3490797620\";\ngoogle_ad_width = 468;\ngoogle_ad_height = 15;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<p><!--Ad Injection mfunc mode ad include code--><!--mfunc include_once('\/mnt\/Target01\/327806\/www.thestockmarketwatch.com\/web\/content\/stock-market-news\/wp-content\/plugins\/ad-injection\/adshow.php') --><!--\/mfunc--><\/p>\n<p><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2010\/12\/114.jpg\"><img decoding=\"async\" class=\"alignleft size-thumbnail wp-image-3636\" src=\"https:\/\/storage.googleapis.com\/smw-news-wp\/stock-market-news\/wp-content\/uploads\/2010\/12\/114-150x150.jpg\"><\/a>The second largest drug manufacturer in the United States, Merck &amp; Co.(<a href=\"https:\/\/thestockmarketwatch.com\/stock.aspx?stock=MRK\">NYSE:MRK<\/a>) plans to cut an additional 12000 to 13000 jobs by the year 2015 in an effort to save as much as $ 4.6 billion per year as an expansion of its restructuring program.<\/p>\n<p><span id=\"more-11068\"><\/span><\/p>\n<p>More than 14 percent of Merck\u2019s total workforce of 91000 employees will be losing their jobs. The Whitehouse Station, New Jersey based Merck &amp; Co.\u00a0 is on a cost cutting spree and also expanding itself in the emerging markets . The company is also spending much on the research and development in order to gain momentum before the patent exclusivity of its asthma treatment Singulair expires next year.\u00a0 Victrelis, a new hepatitis C drug has been recently introduced by the company and Merck is also conducting trials on an experimental treatment aimed at raising the levels of good cholesterol on 30000 patients.<\/p>\n<p><!--Ad Injection mfunc mode ad code--><!--mfunc adshow_display_ad_file_v2(array('ad_random_1.txt'), array(100), array('align' => 'float right', 'clear' => '', 'margin_top' => '', 'margin_bottom' => '', 'padding_top' => '', 'padding_bottom' => ''), array(), array()) --><\/p>\n<div style=\"float:right;margin-left:5px;\"><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"ca-pub-1408583772585547\";\n\/* SMW - in News 300 *\/\ngoogle_ad_slot = \"5684630733\";\ngoogle_ad_width = 300;\ngoogle_ad_height = 250;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/div>\n<p><!--\/mfunc--><\/p>\n<p>Davis Maris, an analyst with the New York based CLSA said on a telephonic interview that Merck &amp; Co. is currently focused on costs and that is exactly what is required under the new operating environment.<\/p>\n<p>Merck fell by 2.2 percent or around 77 cents to $ 34.16 at the New York Stock Exchange composite trading. The shares have declined by about 3.1 percent in this current year until today.\u00a0 The spokesperson for Merck, David Caouette said over telephone that the company will continue hiring in the emerging markets and growth areas.<\/p>\n<p>Caouette also said that the job cuts will be disproportionate as the non revenue generating areas will be eliminated. The positions to be eliminated will include administrative and headquarters positions followed by consolidation of offices and shutting down of animal health manufacturing plants.<\/p>\n<p>Compared to the previous year, the net income of the company has increased almost three fold to $ 2.02 billion from $ 752 million. According to a Merck\u2019s statement today, the previous year\u2019s earnings were low due to the acquisition related costs. The sales have increased beyond the analysts\u2019 expectation of $ 11.8 billion to $ 12.2 billion.<\/p>\n<p>In the second quarter, the sales of Januvia, a diabetes drug has increased by 30 percent to $ 779 million, following the same trend is the sales of Remicade, a treatment for arthritis and inflammatory diseases increased by 26 percent to $ 842 million. The company also stated that the global sales were boosted by 4 percent after there was a slide in the dollar\u2019s value against other currencies.<\/p>\n<p>&nbsp;<\/p>\n<p>More Posts by this author<\/p>\n<ul>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/kb-home-shares-plunge-after-q1-results-kbh\/23385\"><br \/>\nKB Home Shares Plunge after Q1 Results (KBH)<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-prices-rise\/23376\"><br \/>\nGold Prices Rise<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-end-higher-3\/23374\"><br \/>\nStocks End Higher<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-in-green-in-late-trading\/23345\"><br \/>\nStocks in Green in Late Trading<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/recent-events\/business-news\/gold-and-silver-prices-remain-in-green-2\/23342\"><br \/>\nGold and Silver Prices Remain in Green<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/market-updates\/stocks-mixed-after-housing-market-data\/23337\"><br \/>\nStocks Mixed after Housing Market Data<\/a><\/li>\n<li><a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/hot-stocks-to-watch\/advantage-oil-gas-ltd-aav-solid-financial-operating-results\/23303\"><br \/>\nAdvantage Oil &amp; Gas Ltd. &#8211; AAV &#8211; Solid Financial &amp; Operating Results<\/a><\/li>\n<\/ul>\n<hr>\n<table style=\"border:none;margin:0;\">\n<tr>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<img decoding=\"async\" src=\"https:\/\/www2.thestockmarketwatch.com\/stock-market-news\/wp-content\/uploads\/2024\/08\/5.jpg\"><\/td>\n<td style=\"padding:5px;vertical-align:top;\" valign=\"top\">\n<div style=\"font-size:11pt;\"><b>Post Written By: Ed Liston <\/b><\/div>\n<div style=\"font-size:10pt;\">\n<p>Ed Liston is a senior contributing editor at TheStockMarketWatch.com. An active market watcher and investor, Ed guides an independent team of experienced analysts and writes for multiple stock trader publications. He is widely quoted in various financial publications on the Internet. When Ed is not writing about stocks, investing in stocks, talking about stocks, or otherwise doing something stock related, he likes to go sailing and fishing in his yacht.\n<\/p><\/div>\n<\/td>\n<\/tr>\n<\/table>\n<p><script type=\"text\/javascript\"><!--\ngoogle_ad_client = \"pub-1408583772585547\";\n\/* 336x280, created 7\/9\/11 *\/\ngoogle_ad_slot = \"3552319058\";\ngoogle_ad_width = 336;\ngoogle_ad_height = 280;\n\/\/-->\n<\/script><br \/>\n<script type=\"text\/javascript\" src=\"http:\/\/pagead2.googlesyndication.com\/pagead\/show_ads.js\">\n<\/script><\/p>\n<div style=\"margin:5px;margin-bottom:20px;font-size:11pt;\">&laquo; <a href=\"https:\/\/thestockmarketwatch.com\/stock-market-news\/\">Return to Stock Market News<\/a> &laquo; <\/div>\n","protected":false},"excerpt":{"rendered":"<p>The second largest drug manufacturer in the United States, Merck &amp; Co.(NYSE:MRK) plans to cut an additional 12000 to 13000 [&hellip;]<\/p>\n","protected":false},"author":2,"featured_media":50312,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"site-sidebar-layout":"default","site-content-layout":"","ast-site-content-layout":"","site-content-style":"default","site-sidebar-style":"default","ast-global-header-display":"","ast-banner-title-visibility":"","ast-main-header-display":"","ast-hfb-above-header-display":"","ast-hfb-below-header-display":"","ast-hfb-mobile-header-display":"","site-post-title":"","ast-breadcrumbs-content":"","ast-featured-img":"","footer-sml-layout":"","theme-transparent-header-meta":"","adv-header-id-meta":"","stick-header-meta":"","header-above-stick-meta":"","header-main-stick-meta":"","header-below-stick-meta":"","astra-migrate-meta-layouts":"default","ast-page-background-enabled":"default","ast-page-background-meta":{"desktop":{"background-color":"var(--ast-global-color-5)","background-image":"","background-repeat":"repeat","background-position":"center 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