Merck Serono Averts Swiss Workers’ Strike

Merck Serono will extend its negotiation period with the Swiss workers who threatened to strike in response to the drug company’s plans to shutter its Geneva headquarters. The period for negotiations with workers, set to end on May 16, will be extended to June 4. Merck Serono CEO Stefan Oschmann says the firm is trying to identify “redeployment solutions” for employees. Last month, the firm said it would transfer 750 positions and eliminate 500 from the Swiss operation. On May 15, it said that of the $380 million in cost savings expected from all of its operations, about $153 million would result from the closure of its Geneva R&D facility. Merck Serono will relocate its headquarters to parent Merck’s Darmstadt, Germany, location.