"Kenneth Frazier, the chief officer executive of Merck & Co. MRK -0.78% , makes $15 million a year firing people.
On Tuesday, as Americans awoke to a partially shuttered government and a confusing new health care system, he put out a press release promising to lay off 8,500 more people. On top of a previously announced plan to slash 7,500 employees, this represents a 20% trim to Merck’s current workforce of about 81,000."
"Merck will be “better positioned to drive innovation,” Frazier said.
The fewer brains one applies to a complicated problem like human suffering, the better, he would have us believe. And the smaller the sales force, well, you know, the bigger the sales."
"“Today’s announcement further underscores that we are committed to improving our performance in the short term while also investing for the long term,” Frazier said in the release.
Investing for the long term? Doesn’t he mean divesting for the long term? A very bleak long term?"
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