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Merck to cut costs by $2.5 billion, eliminate 8,500 jobs
reuters.com ^ | 10/1/2013

Posted on 10/01/2013 6:30:03 AM PDT by RoosterRedux

Merck & Co (MRK.N), taking a cue from other drugmakers that have slashed research spending to bolster earnings, on Tuesday said it plans to cut annual operating costs by $2.5 billion by the end of 2015 and eliminate 8,500 jobs.

By slimming down, Merck aims to narrow its focus to products with the best chance of winning regulatory approval and achieving substantial sales, while jettisoning research products with less likelihood of success.

The planned job cuts, representing more than 10 percent of the company's global workforce of 81,000 employees, would be in addition to previously announced cuts of 7,500 positions.

(Excerpt) Read more at in.reuters.com ...


TOPICS: News/Current Events; US: New Jersey
KEYWORDS: economy; layoffs; medicine; merck; pharmaceuticals
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To: RoosterRedux
. . . taking a cue from other drugmakers that have slashed research spending to bolster earnings

Next, they will stop their wristwatches and clocks to save time.

21 posted on 10/01/2013 7:44:13 AM PDT by Oatka (This is America. Assimilate or evaporate.)
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To: RoosterRedux

They know that sooner or later a single payer agency will be coming around to the pharma sector to collect it’s cut.


22 posted on 10/01/2013 7:50:22 AM PDT by Buckeye McFrog
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To: Kartographer

To here some Freepers, everyone unemployed is a dead beat.


23 posted on 10/01/2013 7:52:29 AM PDT by autumnraine (America how long will you be so deaf and dumb to thoe tumbril wheels carrying you to the guillotine?)
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To: RoosterRedux

This is a terrible thing.


24 posted on 10/01/2013 7:53:59 AM PDT by trisham (Zen is not easy. It takes effort to attain nothingness. And then what do you have? Bupkis.)
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To: RoosterRedux

Lotsa confusion here.

Big healthcare companies are a key part of globalism / new world order.

New world order cares less than nothing about individual people.

Layoffs are fine by them.

Think about totalitarian regimes.

Then think about transnational financial elites.

They are always the financial backing for “nationalized” industries, whether in the Western countries (US/UK/Europe) or third world countries.

Governments that are “in bed with” globalism are like vassals, they rule the people on behalf of globalist elites.

Most people angrily reject the idea that their government has been, in effect, hijacked.

In a two party system - they keep insisting that all their problems are the fault of “the other party”.


25 posted on 10/01/2013 10:12:15 AM PDT by PieterCasparzen (We have to fix things ourselves)
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To: RoosterRedux

The world will suffer. We were making the new drugs, because we were the only country which still had incentives for the manufacturers to take risks. Now we don’t.

SO soon, every country that already socialized their medicine will finally feel the pain of that choice, as they won’t be freeloading on our backs. Of course, we will all be dead of some drug-resistant bacterial strain, but at least we will all go together.

The hippies will be happy as the earth is returned to mother Nature.


26 posted on 10/01/2013 12:01:49 PM PDT by CharlesWayneCT
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To: CharlesWayneCT; RoosterRedux

Merck was and is a key supporter of Obamacare.

Ergo, Merck’s board of directors and top management see it as being profitable for Merck in the long run.

“Socialized” medicine would not cut them out of the business, it would guarantee their sales in a controlled marketplace where they would be one of only a few big players. The government can be billed directly, which then in turn gets funds from taxes collected from the sheeple.

The government under socialized medicine is simply used to force everyone to pay for medical products and services at whatever price levels the final surviving medical monopoly companies happen to be able to provide (competition having been eliminated), and more importantly, centralizes the debt financing provided for medical facilities and equipment. Of course, tax revenue is used to service the debt, which is labeled as government-issued or backed bonds.

We’re not moving towards being controlled by government; we’re already well on our way to being controlled by financial elites which use the government as a proxy for controlling us.


27 posted on 10/01/2013 1:13:35 PM PDT by PieterCasparzen (We have to fix things ourselves)
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