Merck (NYSE:MRK) announced today that the company plans to relocate its global headquarters from Whitehouse Station, N.J., to facilities it has in Summit, N.J., about 30 miles away. The transition affecting some 2,000 employees at Whitehouse Station is expected to begin in 2014 and be completed by mid-2015. Merck has been headquartered in Whitehouse Station since 1992.
The move comes as part of Merck's corporate initiative to consolidate its global footprint and reduce operating costs. The Summit location already serves as the base for 1,800 employees in the company's research, manufacturing, animal health, and consumer care operations. According to Merck, the site was selected as the new headquarters location because it had available multi-use space and is "near major transportation hubs and desirable urban centers."
The 2,000 employees currently working in the company's Whitehouse Station location will move to the new headquarters or to other nearby facilities in New Jersey.
Keith Speights has no positions in the stocks mentioned above. The Motley Fool has no positions in the stocks mentioned above. Try any of our Foolish newsletter services free for 30 days. We Fools may not all hold the same opinions, but we all believe that considering a diverse range of insights makes us better investors. The Motley Fool has a disclosure policy.
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