Processing Magazine

Recent mergers lead rivals Pfizer and Merck to eliminate jobs

January 12, 2010

According to the Associated Press, drugmakers Pfizer and Merck are each planning to eliminate hundreds of jobs. Reports indicate Pfizer will eliminate nearly 1,200 jobs, including 680 in Pennsylvania, 400 in New Jersey, and 116 in New York. Merck will cut 500 jobs in New Jersey. Pfizer bought vaccine maker Wyeth for $68 billion in October, while Merck paid $41.1 billion for Schering-Plough Corp. in November. Both are planning to eliminate thousands more jobs. Combined, Pfizer and Wyeth plan to cut about 20,000 jobs, or 15 percent of their combined staff. In November, Pfizer said it would eliminate about 2,000 scientist and laboratory technician jobs. Merck said it planned to eliminate about 16,000 of the 106,000 staff positions it had after the Schering-Plough deal was complete.