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Merck Plans More Layoffs04:34
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Merck Research Laboratories in Boston. (Kate Hannon/Flickr)
Merck Research Laboratories in Boston. (Kate Hannon/Flickr)

The pharmaceutical giant Merck says it will cut 8,500 jobs in its global workforce. This comes after an earlier layoff of 7,500 employees.

The move is part of a major restructuring plan: the company has been losing money as other drug companies have become strong competitors.

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This segment aired on October 1, 2013.

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