Merck Cuts 8,500 JobsPost Views 1
The pharmaceutical giant Merck has announced that they will be pulling operations from their Whitehouse Station section of Readington and moving to Kenilsworth, and in the process they will be cutting 8,500 jobs. The reason for the cuts are along the same reason such cuts are usually made:
“These actions will make Merck a more competitive company, better positions to drive innovation and to more effectively commercialize medicines and vaccines for the people who need them,” said Kenneth C. Frazier, chairman and chief executive officer of Merck.
“Today’s announcement further underscores that we are committed to improving our performance in the short term while also investing for the long term to create value for patients, customers and shareholders.”
As “creating value” for shareholders is the get-out-of-jail-free card for any business practice, those who are being cut for the greater glory of Merck have little choice but to shore up their resources and join the rest of those seeking employment in these bleak times.
Not that Merck is indifferent the plight of its employees. “While these actions are essential to ensure that Merck can continue to fulfill its mission into the future, they are nevertheless difficult decisions because they affect our dedicated and talented colleagues. We appreciate the contributions of all our employees, and we will support them during this time of transformation,” said Frazier.
It is as of yet unknown how many jobs will be lost specifically in New Jersey.Merck Cuts 8,500 Jobs by Andrew Ostler