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Merck Hits Targets, Plans Job Cuts
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Merck(MRK Quote) reported third-quarter earnings that were in line with expectations on Wednesday, factoring out a restructuring charge, but the drugmaker said it would continue its cost-cutting efforts and eliminate more jobs.
The Whitehouse Station, N.J., company said it will cut its workforce by 12% as part of a new restructuring program that comes three years after a previous retooling at Merck.
Shares of Merck closed at $29.97 on Tuesday and were down 3% in the premarket. ...
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