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Big Layoffs at Wells Fargo and Merck
Two major companies announced major changes today. San Francisco bank Wells Fargo is eliminating 3,800 jobs as part of a “restructuring”–a small number compared to the 278,000 who work for the company, but big for the people who will lose jobs. More than 638 independent consumer finance offices will be closed.
Meanwhile, pharma firm Merck is closing eight plans and eight research sites, including two outposts in the US. It’s canning a whopping 16,000 people thanks to its merger with Schering-Plough last year. Now that’s a bitter pill to swallow.
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