Merck KGaA says to cut 1,100 jobs in Germany
FRANKFURT, Sept 4 |
FRANKFURT, Sept 4 (Reuters) - German drugs and chemicals maker Merck KGaA plans to cut about one out of 10 jobs at its domestic sites, the latest in a string of restructuring measures in response to setbacks in drug development.
The family-controlled drugmaker, which has 10,900 staff in Germany, said in a statement on Tuesday that it agreed with German labour representatives on cutting 1,100 jobs as part of an ongoing company-wide restructuring programme.
The company in February announced plans to cut costs across all its businesses after it failed to bring a promising multiple sclerosis drug to market and could not considerably expand the use of its cancer drug Erbitux. (Reporting by Ludwig Burger)
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