Business & Tech
Merck to Close Summit Campus, Cut 8,500 Jobs Amid Restructuring
Citing cost savings and operational synergies, the pharmaceutical giant will move to Kenilworth.
Pharmaceutical giant Merck announced plans Tuesday to close its Summit campus amid a top-to-bottom restructuring that will slash as many as 8,500 jobs companywide, according to Fox Business.com.
While it was announced nearly one year ago that Merck would move its global headquarters from Whitehouse Station to Summit, the company has now decided to close both of those campuses and move to its existing Kenilworth facility, citing "greater cost savings and operational synergies" as reasons behind the move, according to BusinessWire.com
The transition is due to begin in 2014 and will be completed by 2015.
Check back with Patch later today for comments from Summit Mayor Ellen Dickson.
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