logo
Share SHARE
FONT-SIZE Plus   Neg

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.

by RTT Staff Writer

For comments and feedback: editorial@rttnews.com

Business News

Quick Facts

Editors Pick
French aircraft maker Dassault Aviation SA said Wednesday that following repeated delays, it has terminated a contract with French defense company Safran for its Silvercrest engine that was intended to power Dassault's Falcon 5X business jet. Walt Disney Co. has agreed to buy certain assets of Rupert Murdoch's Twenty-First Century Fox, Inc. for about $52.4 billion in stock, the two companies said Thursday. Immediately prior to the acquisition by Disney, 21st Century Fox will separate the Fox Broadcasting network, Fox News Channel, Fox Business Network, FS1, FS2 and Big Ten Network into a newly listed company that will be spun off. Crypto Co., engaged in the digital currencies and blockchain sector, announced its plans to execute a 10-for-1 stock split, citing the significant growth in the value and demand for its shares amid the ongoing digital currency market boost. CEO Mike Poutre said, ""We are aware of the recent fluctuation in our stock, and want to see orderly market activity surrounding the trading of our stock."
comments powered by Disqus
Follow RTT