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

Editors Pick
LinkedIn Corp., the world's largest online professional network, said Thursday after the markets closed that its third quarter loss widened slightly from last year, as higher costs and expenses more than offset a 45% increase in revenue. However, the company's quarterly earnings per share, excluding items, came in above analysts' expectations as did its quarterly revenue. After ending the previous session modestly lower, stocks moved mostly higher over the course of the trading day on Thursday. The gains on the day more than offset yesterday's losses, lifting the major averages to their best closing levels in a month. Sen. Lindsey Graham, R-S.C., is seen as a long shot for the Republican presidential nomination in 2016, and his chances may have gotten worse after he was recorded joking about the prospects for "white men" if he were elected president.
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.