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
General Motors (GM) announced on Wednesday that it has been approved to voluntarily delist from the Toronto Stock Exchange. The auto giant reassured its shareholders that the TSX delisting will not impact its current listing on the New York Stock Exchange. Subsequent to the bankruptcy filing of German no frills airline Air Berlin (AIBEF.PK), Lufthansa airline is strongly pursuing to acquire Air Berlin. Meanwhile, Ryanair, its Irish rival, accused conspiracy in the deal and said that the acquisition move will breach the existing competition rules in Germany in general and EU in particular. The Royal Bank of Scotland plans to cut 880 jobs from its IT department in London by 2020, a UK labor union reported. Britain's Unite union claimed on Tuesday that the bank informed its staff about a further 40 percent cut of permanent IT jobs, which is said to be part of ongoing deep cost-cutting at the taxpayer-owned bank. The bank also plans a 65 percent reduction of contractors.
comments powered by Disqus
Follow RTT