Find Your Daily Voice
GO
Tag:
Cost Savings
Rahway, NJ
On Your Side
Rahway-Based Merck Stock Drops, Layoffs Begin In $3B Restructuring Plan
Merck, a pharmaceutical company headquartered in Rahway, announced it will be undergoing layoffs after a disappointing second quarter. In its earnings report, Merck said it aims to save more than $3 billion in cost savings as part of a "multiyear optimization initiative." The restructuring program includes eliminating certain administrative, sales and research and development positions. Merck did not say how many people would be laid off, but said they aim to achieve the cost savings by 2027. To save money, the company plans to reduce office space and optimize its manufac…
North Adams, MA
On Your Side
CVS Closing Hundreds Of Stores Across US
CVS says it will close 271 retail locations across the country by the end of the year. The company — the world’s second-largest healthcare provider — announced the move to stockholders late last week as part of an enterprise-wide restructuring plan. The goal, CVS says, is to simplify the organization, improve efficiency, and generate more than $500 million in cost savings in 2025. CVS has not yet released which stores will be affected or when closures will take place. The company currently operates around 9,100 stores across the US. Founded in 1963 in Lowell, Massachusetts, CVS is n…
Lawrence Township, NJ
Breaking News
Bristol Myers Squibb Laying Off 500+ Employees From Lawrence Township Office
Bristol Myers Squibb, the pharmaceutical company headquartered in New Jersey, announced plans to lay off more than 500 employees starting this month. According to a Worker Adjustment and Retraining Notice, the company plans to lay off 516 employees from its Lawrence Township headquarters beginning Friday, May 9, with layoffs continuing into next year, ending in March. Bristol Myers Squibb had previously laid off 290 employees from its Lawrence office in February. "We remain focused on developing and delivering transformational medicines to patients around the world and continue to de…
Harrison, NY
On Your Side
Purchase-Based Teladoc Expands Early Disease Detection For 90M+ Patients With $65M Deal
Teladoc Health is expanding its at-home healthcare offerings by purchasing a leading company in virtual preventive care. Teladoc announced on Wednesday, Feb. 5 that it will buy Catapult Health for $65 million. Headquartered in Purchase, New York, Teladoc helps more than 93 million people get virtual medical care and connects patients with doctors, nurses, and therapists. Catapult Health's platform called VirtualCheckup will be integrated into Teladoc's existing system, allowing patients to collect blood samples, check blood pressure, and complete other health screenings …
