Long-term plan sees Schering-Plough cut 1,100 jobs
Schering-Plough is to cut 1,100 manufacturing jobs as it looks to reduce annual costs by around US$100m in 2007 and become "a high-performance competitor for the long-term", in the words of ceo Fred Hassan.
Schering-Plough is to cut 1,100 manufacturing jobs as it looks to reduce annual costs by around US$100m in 2007 and become "a high-performance competitor for the long-term", in the words of ceo Fred Hassan.
The cuts will result in the phasing out of all manufacturing operations at the company's Manati, Puerto Rico site by the end of 2006, as well as some lay-offs at sites in Las Piedras, Puerto Rico and New Jersey, US. They will incur one-off expenses of $235-$260m.