Restructuring events
European Restructuring Monitor (ERM)
The restructuring events database contains factsheets with data on large-scale restructuring events reported in the principal national media and company websites in each EU Member State. This database was created in 2002.
German pharmaceutical and technology company Merck Group has announced that it will cut 230 jobs worldwide.
The company is to reduce its employment in its electronics division, which makes semiconductor materials. Up to 100 of those job cuts will come at Merck headquarters in Germany, while the rest are to be eliminated outside of Germany by the end of 2025. The conditions of the programme will be negotiated with employee representatives according to local regulations.
It is another austerity package announced by the company in a short time. In November 2023, Merck announced a restructuring programme to reduce costs in its electronics division by €90 million.
Currently, Merck operates in 65 countries and employs 64,000 people worldwide.
In 2023, Merck already announced two saving packages including 200 job cuts in its pharmaceutical division as well as 550 cuts in IT, sales, human resources and its legal division (https://apps.eurofound.europa.eu/restructuring-events/detail/108807).
Eurofound (2024), Merck, Internal restructuring in World, factsheet number 200924, European Restructuring Monitor. Dublin, https://dev.eurofound.europa.eu/restructuring-events/detail/200924.