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Wednesday, November 04, 2009
Merck Cuts Won't Come in Next Couple Days
By Darryl R. Isherwood
FOXBusiness
Job cuts are still coming but not this week, Merck & Co.(MRK) Chief Executive Richard Clark said Wednesday, according to Dow Jones.
The company, which yesterday acquired Schering-Plough, plans to cut some 16,000 jobs from its workforce of over 106,000 employees.
“We’re committed to communicating in a timely manner,” Clark told Dow Jones, adding that a substantial majority of Schering-Plough employees would remain. “This is only day one.”
Clark also said the company is looking to buy in the biotechnology arena, but there will be deals near the size of the Schering purchase in the near future.
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