German drugs and chemicals group Merck KGaA announced plans on Friday for a cost-cutting programme across all its businesses that may include job cuts.
“Over the next two years Merck needs to address unprecedented market shifts, increasing competition in key product areas and existing inefficiencies in its own organization to ensure the long-term success of its business model,” Chief Executive Karl-Ludwig Kley said in a statement.
The maker of drugs and liquid crystals used in flat screen televisions did not say how much it aimed to save, how it planned to cut costs or which businesses would be affected.
“We have a view on what needs to be achieved, but we will consult with the employee representatives on a country-by-country basis and we will consider any pragmatic proposals,” Kley said…
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