Thursday, October 23, 2008

Merck to Close Seattle Research Center

Merck & Co. Inc. announced Wednesday that it plans to close its basic research facility in Seattle's South Lake Union district by the end of 2009. The pharmaceutical manufacturer said the impending closure is part a global restructuring effort that will ultimately result in the shutdown of two more research centers and the loss of some 7,200 jobs, or about 13 percent of Merck's worldwide workforce. According to the Puget Sound Business Journal, some 300 people currently work at Merck's Seattle facility. The news marks Merck's second series of cutbacks in three years—in December 2005, the company said it would slash 10,400 jobs over a three-year span.