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Merck shrinks headcount by 88 in New Jersey as $3B cost-cutting scheme advances
More biopharma layoffs are hitting New Jersey, this time from Merck & Co.in the latest phase of headcount reductions attributed to its $3 billion cost-cutting plan announced last July.
TL;DRAI
Merck cuts 88 New Jersey positions in the latest phase of its $3 billion cost-reduction plan, reallocating resources to fast-growth areas. With Keytruda facing 2028 biosimilar competition and driving half of Merck's $65B revenue, layoffs signal urgent need to fund new pipelines before patent cliff impact.
698 words~3 min read
