FRANKFURT, Germany (AP) — German drug maker Merck KGaA is to eliminate one out of every 10 jobs in its home country.
Merck said Tuesday it would cut 1,100 of the 10,900 positions in its home country. It signed an agreement with employee representatives about the cost cuts. The company will try to find the cuts through either not filling the posts of people who leave or workers opting to take early retirement.
Merck has suffered development and marketing setbacks including the abandonment of its multiple sclerosis drug Cladibrine after it was rejected by EU regulators and questioned by the U.S. Food and Drug Administration.
Merck KgaA has 40,000 workers in 67 countries. It's a different company from U.S.-based Merck & Co., Inc.