Merck KGaA Launches Efficiency Program

Germany’s Merck is planning a company-wide cost-cutting and growth program. The two-phase program is designed to address marketplace shifts and increasing competition while freeing up resources for investment. The drug and specialty chemical maker is setting up a streamlined leadership team that will implement efficiency measures and develop a long-term growth strategy over two years. A second phase will focus on exploiting new growth opportunities. Merck says it will consult with employee groups before it specifies job cuts, which are expected across all businesses and regions.