Drug maker Merck is slashing 8,500 more jobs

Drug maker Merck is slashing 8,500 more jobs
MGN ONLINE
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POSTED: Tuesday, October 1, 2013 - 9:00pm

UPDATED: Tuesday, October 1, 2013 - 9:09pm

Drug maker Merck is slashing 8,500 more jobs worldwide. The new cuts are in addition to the 7,500 cuts previously announced.

That amounts to 20% of Merck's workforce, none of the jobs cuts have happened yet.

Merck says it hopes to save about $2.5 billion dollars annually by 2015.

The company will also move its headquarters from Whitehouse Station, New Jersey to its existing facilities in nearby Kenilworth, which is closer to New York City

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