The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
Manufacturing Manufacture Of Chemicals And Pharamceuticals Manufacture Of Basic Pharmaceutical Products And Pharmaceutical Preparations 21.1 - Manufacture of basic pharmaceutical products
8,500 jobs Number of planned job losses
Announcement Date
1 October 2013
Employment effect (start)
1 October 2013
Foreseen end date
31 December 2015
Description
On 1 October 2013, the pharmaceutical group Merck announced its plan to reduce its global workforce by 8,500 positions by the end of 2015 in an attempt to cut costs. These job cuts will take place in addition to 7,500 redundancies currently underway. Together with the most recently announced job cuts, the company is planning to reduce its workforce by around 20%.
The company has not yet made a statement on where exactly the restructuring measures will be carried out. News reports, however, suggest that the company’s workforce is currently being reduced in Italy, where 243 staff is being made redundant.
Merck Sharp & Dohme (MSD) currently employs around 81,000 staff worldwide.
Sources
1 October 2013: Company website
1 October 2013: BBC
Citation
Eurofound (2013), Merck Sharp and Dohme (MSD), Internal restructuring in World, factsheet number 75994, European Restructuring Monitor. Dublin, https://restructuringeventsprod.azurewebsites.net/restructuring-events/detail/75994.
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