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Monday, November 28, 2005

Merck Cuts 7,000 Jobs

Maybe if they spent more on research than on marketing they wouldn't be in this predicament:
Drugmaker Merck & Co., squeezed by Vioxx lawsuits, tumbling revenues and other troubles, is eliminating 7,000 jobs and five production plants and revamping manufacturing in the first phase of a global reorganization. The long-awaited announcement Monday drove Merck shares down more than 4 percent.
But something tells me, the vast majority of those getting cut were not the ones setting the priorities. Tragic.

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