Merck announced today that it is cutting 7,200 jobs worldwide as part of its continued restructuring. One analyst said that the move was "not a stunner," and certainly anyone following the company knows that it is in makeover mode. Nevertheless, it's a bit disheartening when CEO Richard Clark says the cuts have nothing to do with performance or the economy. In such dire economic times, you almost wish that job cuts could be blamed on external forces beyond Merck's immediate control.
The Seattle area will feel the pain a bit more acutely as it will see the shutdown of a Merck R&D facility.