Quick Facts
FONT-SIZE Plus   Neg
Share SHARE

Merck KGaA Reveals Merck Serono Implementation Plans - Quick Facts

Merck KGaA (MKGAY.PK) announced efficiency measure plans relating to Merck Serono's operations in Switzerland as part of the comprehensive transformation program announced earlier. The planned measures include the closure of Merck Serono's headquarters in Geneva, workforce reductions and the redeployment of certain Switzerland-based functions to other Merck locations.

As a result, of the 1,250 current positions in Geneva more than 750 positions would be transferred. Further, Merck intends to reduce 500 positions in Geneva and 80 positions across the three Swiss-based manufacturing sites to create a leaner, more agile organization.

Following the closure of the consultation process with employees and review of its results, the company plans to start relocations and reductions of its workforce in the second half of 2012 and targets to fully implement the plan in the first half of 2013.

Click here to receive FREE breaking news email alerts for Merck KGaA and others in your portfolio

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
Toyota Motor Corp. (TM, TYT.L) Thursday announced 1.1 percent decline in worldwide production for October, as there was a sharp decline in production of passenger cars in Japan. Production outside Japan improved 2.3 percent. In a separate announcement, the Japanese automaker said it will recall more... Computer and printer maker Hewlett-Packard Co. said Tuesday after the markets closed that its fourth quarter profit fell 6% from last year, as revenue declined 2%. The company's quarterly earnings per share, excluding items, came in line with analysts' expectations, but its quarterly revenue fell short of analysts' forecast. This organic and natural products company has experienced strong compounded annual growth over the last four fiscal years with its net sales growing 25% and adjusted income from continuing operations over 30%.
comments powered by Disqus
FREE Newsletters, Analysis & Alerts

 

Stay informed with our FREE daily Newsletters and real-time breaking News Alerts. Sign up to receive the latest information on business news, health, technology, biotech, market analysis, currency trading and more.