Merck Schering-Plough Merger to Kill 16,000 Jobs

Pharmaceutical giant Merck has announced a $41.1 billion takeover of Schering-Plough, which is likely to be followed by a reduction of 15% in the combined global workforce, affecting 16,000 jobs.

Merck shares fell to 14-year lows on the news, a sign of the market skepticism that greeted the similar plan for Pfizer and Wyeth six weeks ago.

Merck & Company, also known as Merck Sharp & Dohme outside the USA and Canada, is one of the largest pharmaceutical companies in the world. The headquarters of the company is located in Whitehouse Station, New Jersey. It was established in 1891 as the US subsidiary of the German company now known as Merck KGaA.

Schering-Plough is a pharmaceutical company founded in 1851 by Ernst Schering. In 1971, the Schering Corporation merged with Plough to form Schering Plough. It is also headquartered in New Jersey.

Career Connect (From our other career blogs):

Employment News (Sponsored by EmploymentSpectator)
Following Your Passion-Literally! (Sponsored by iamnotastalker.com)
Job Search Advice from the CEO of TravelingCrossing (Sponsored by aharrisonbarnes.com)
Layoff News (Sponsored by LayOffWatch)

Testimonial of the Week

I like the volume of jobs on EmploymentCrossing. The quality of jobs is also good. Plus, they get refreshed very often. Great work!

Roberto D Seattle, WA

+ Read More Testimonial

Only TravelingCrossing consolidates every job it can find in the domain and puts all of the job listings it locates in one place.

We have more jobs than any other job board.
We list jobs you will not find elsewhere that are hidden in small regional publications and employer websites
We collect jobs from more than 4,429,376 websites and post them on our site.
We are private, and therefore far fewer people are applying for the jobs on our site than are applying for those on public job boards.