Merck Slashing Banyu Operations In Japan
Make a commentBy Ed Silverman // September 17th, 2008 // 6:58 am
The drugmaker will more than halve the number of its Banyu sales branches and offices nationwide - from 71 to 20 - by this coming spring as part of a global strategic review, the Associated Press reports. As a result, headcount will drop, although specifics weren’t offered. Currently, Banyu employes 3,700 people, including 1,700 sales reps.
Merck, whose earnings have been hurt by disappointing sales of its Vytorin cholesterol fighter and generic competition for its older Zocor cholesterol drug, cut 1,200 US sales jobs earlier this year (back story). Those cuts were part of a global restructuring plan announced in late 2005, meant to generate a total of $4.5 billion to $5 billion in savings through 2010.
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Tags
Banyu, Japan, Job Cuts, Merck