Merck Serono Will Cut Jobs, Close Facility

Merck KGaA is cutting 500 jobs from its pharmaceuticals arm, Merck Serono, as part of a corporate overhaul. Merck Serono’s headquarters in Geneva will be closed, and operations will be transferred to Merck’s Darmstadt, Germany, base. Of the 1,250 jobs in Geneva, some 750 will be moved to other sites by the second half of 2013. R&D positions will be transferred to Darmstadt, Boston, and Beijing. The German firm cites market shifts, increasing competition, and corporate inefficiencies as driving the restructuring. Merck Serono says it will commit up to $40 million in funding to support the spin-off of compounds or other activities that no longer fit its core business.