Tags: Merck | job cuts | pharmaceuticals | Florida

Merck Cuts 112 Jobs in Florida as Factory Shuts Down

Merck Cuts 112 Jobs in Florida as Factory Shuts Down

 (Dreamstime/Merck)

By    |   Wednesday, 05 October 2016 02:50 PM

Merck & Co. is cutting 112 jobs in Miami Lakes, Florida, as the drugmaker closes a factory.

“The job cuts will begin Nov. 15 and take place in two waves, one that month and one in December,” reports FiercePharma, which cited a notice filed with the state. “Two employees will remain at the plant until mid-2017 to wrap up the closure.”

Merck has been trimming its manufacturing network after the 2009 buyout of Schering-Plough Corp. The $41 billion deal created a company with 90 factories and 36,000 jobs that faced the chopping block.

Miami Lakes is in Miami-Dade County, where the jobless rate was 5.6 percent in August, according to data cited by the South Florida Business Journal. The national unemployment rate is 4.9 percent.

Merck had 71,000 employees as of 2015, whiles its market value was about $174 billion on Oct. 5. Its stock has risen 19 percent since the beginning of the year.

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Merck is cutting 112 jobs in Miami Lakes, Florida, as the drugmaker closes a factory.
Merck, job cuts, pharmaceuticals, Florida
158
2016-50-05
Wednesday, 05 October 2016 02:50 PM
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