Merck Announces 8,500 More Layoffs

October 1, 2013 | This morning, Merck released the news that it will by firing 8,500 more workers across the company, including from R&D and at the management level. This latest round of layoffs follows 7,500 that had already been announced, bringing the combined total to around 20% of Merck's entire workforce. Merck hopes to save $1 billion next year through this and other cost-cutting measures, rising to $2.5 billion by 2015. As part of this dramatic downsizing, Merck will also move headquarters from Whitehouse Station, NJ, to Kenilworth, NJ, and shutter both its Whitehouse Station and Summit, NJ, campuses. Bloomberg