Merck to slash jobs in wake of Vioxx debacle

Where you can find all the latesMerck, the US pharmaceuticals giant, is poised to announce a major restructuring plan that could lead to large-scale job cuts and plant closures.
An announcement could be made as early as this week. The plan would be the first major move by Richard Clark, who took over as chief executive in May.
The move follows a period of upheaval at Merck, which has been under pressure since it had to withdraw Vioxx, its best-selling painkiller, from the market after it was linked to an increased risk of heart attacks and strokes.
Merck faces thousands of lawsuits from former patients over the Vioxx debacle, including several hundred from British patients. A number of cases have been filed in US courts. More than 20m people worldwide had taken the drug, including some 400,000 in the UK. The episode led to the departure of Merck's chairman and chief executive, Raymond Gilmartin.
"We are carefully considering a variety of options to help improve our core business," said a Merck spokeswoman.t breaking news concerning VIOXX