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Home Industry News MSD announces job losses

MSD announces job losses

12th May 2008

Merck, Sharp and Dohme (MSD) has announced job losses as part of its restructuring plans to improve efficiency.

The firm will reduce its sales force in the US by a total of 1,200 positions, while forecasting there will be no disruption to the service offered to its customers as a result of this business process re-engineering.

Affected employees will be notified by the end of the month, with separations completed by the end of July.

The firm claims that it is dedicated to treating its employees with respect and fairness and will offer benefits and other assistance to employees who are eligible.

Kenneth Frazier, president, global human health at the company, said: “Merck is taking this step as part of our previously disclosed, continuing efforts to optimize our cost base and improve Merck’s effectiveness and efficiency across all aspects of our business as part of our Plan to Win strategy.”

He added that the firm has decided to speed up the attainment of the efficiencies it hopes to gain as it moves to a new commercial model in the US.

In April 2008, MSD announced sales of $5.8 billion (2.9 billion pounds) for the first quarter of 2008, with net income recorded at $3.3 billion for the same period.

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