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Economy

Economic Data (USA)

Monday, November 28, 2005

Merck To Cut 7,000 Jobs & Plans On Closing Plants

The pharmaceutical company Merck announced today that 7,000 jobs will be cut and that five plants will either be sold or closed in an attempt to appease shareholders; Merck stock lost 4% as a result of today's news.

A decent "Black Monday" for Internet retailers wasn't enough to help today's numbers:

Dow Jones Industrial Average: Closed Down @ 10,890.72

NASDAQ: Closed Down @ 2,239.37

S&P 500: Closed Down @ 1,257.46


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