Drug maker Merck announced it will cut thousands of jobs and move its corporate headquarters.
Merck's job cuts are part of its $2.5 billion global restructuring plan, as the drugmaker seeks to strengthen its commercial and R&D focus. The overhaul is part of a broader strategy being set by the company's new R&D chief, Roger Perlmutte.
In order to maximize cost savings, Merck plans to move its global headquarters from Whitehouse Station, NJ to its existing facilities in Kenilworth, N.J. The Summit, NJ facility, which was supposed to become the new headquarters in Merck's initial plan, will also be closed. Read more