Merck to Refrain From Firings to Cut German Workforce, Welt Says

Merck KGaA (MRK) won’t use mass firings to reduce its workforce of 11,000 employees in Germany as part of a cost-saving plan, Die Welt reported, citing a document from a meeting of workers and management.

The strategy for the Darmstadt, Germany-based drugmaker’s employees outside its home country remains unclear, the Berlin- based newspaper said.

Merck’s global workforce totaled almost 40,700 employees at the end of 2011, according to the company’s annual report.

To contact the reporter on this story: Alex Webb in Frankfurt at awebb25@bloomberg.net

To contact the editor responsible for this story: Chad Thomas at cthomas16@bloomberg.net

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