Tag

Corporate Reorganization

All articles tagged with #corporate reorganization

Merck Restructures to Stand Up a Dedicated Oncology Unit Ahead of Keytruda's Patent Cliff
business10 days ago

Merck Restructures to Stand Up a Dedicated Oncology Unit Ahead of Keytruda's Patent Cliff

Merck is splitting its human health business into two divisions—a dedicated oncology unit to oversee cancer therapies (including Keytruda) and a separate specialty pharma and infectious diseases unit for non-cancer products and vaccines—part of a strategy to sharpen growth after Keytruda's looming patent cliff. The company cites expectations of continued leadership in oncology and potential multi-brand growth, highlighting leadership changes: Jannie Oosthuizen will run the oncology and international unit, while Brian Foard heads the new specialty/pharma/infectious diseases unit, with Chirfi Guindo in a policy/communications role. Merck aims to sustain long-term oncology leadership and push growth through its pipeline, with executives signaling potential of more than $70B in annual revenue mid-decade.

Citigroup Extends Remote Work Policy Through New Year
business2 years ago

Citigroup Extends Remote Work Policy Through New Year

Citigroup has informed most of its employees that they can work remotely for the final two weeks of December, allowing them to log in from anywhere in their country of employment. This comes as employees are on edge due to CEO Jane Fraser's corporate reorganization, which has already led to executive departures and the closure of the firm's municipal bond business. Citigroup's review of the bank is expected to be completed by the end of March, and severance expenses tied to the project will be disclosed in January and April.

Spotify to Cut 200 Jobs in Podcast Division
business2 years ago

Spotify to Cut 200 Jobs in Podcast Division

Spotify plans to cut around 200 jobs in its podcast division as part of a corporate reorganization, merging Parcast and Gimlet Studios. The move comes after the company's big bet on podcasts and exclusive content in 2019, which saw it acquire popular podcast networks. Spotify promises generous severance packages for affected employees and says it will focus on delivering more value for creators and users. The move could lead to significant changes in Spotify's original content strategy in the coming months.