Merck & Co. Cuts More Jobs Amid $3 Billion Cost-Cutting Plan
Pharmaceutical giant Merck & Co. has announced another round of layoffs as part of its $3 billion cost-cutting plan, which aims to reduce expenses by 2027. The company sent a notice to New Jersey's state government that it will lay off 54 workers at its Rahway location.
The layoffs are in addition to the 88 jobs cut earlier this year, bringing the total number of New Jersey job losses to 142 so far in 2026. The most recent round of layoffs will take place in two phases: December 11, 2026, and January 4, 2027.
The cost-cutting plan is designed to support the development of new products, according to Merck & Co. However, the timing of the layoffs may seem unusual given that the company was recently ranked as one of the best employers in New Jersey by Forbes' America's Best Employers by State list just weeks ago.