NEW YORK (AP) — Fresh off major acquisitions of rivals, drugmakers Pfizer Inc. and Merck & Co. are each planning to eliminate hundreds of jobs.
According to reports, Pfizer will eliminate nearly 1,200 jobs, including 680 in Pennsylvania, 400 in New Jersey, and 116 in Rockland County, N.Y. Meanwhile Merck will cut 500 jobs in New Jersey.
Pfizer, which is based in New York, bought vaccine maker Wyeth for $68 billion in October, while Merck paid $41.1 billion for Schering-Plough Corp. in November. Both are planning to eliminate thousands more jobs.
A Pfizer spokesman says the cuts were disclosed when the merger closed. A representative for Merck of Whitehouse Station, N.J., didn't immediately respond to requests for comment.
