As part of its 2Q11 earnings announcement, Merck revealed that it plans to expand its current restructuring plan. The company will lay off 11 to 12% of its staff (around 10,500 of its 91,000 employees) in an effort to gain approximately $1.5 billion in annual savings by 2015. The layoffs come on top of the initial post-Schering-Plough restructuring announcement in November 2009, which involved 16,000 layoffs for a planned savings of $2.7 to $3.1 billion. The total cost of all restructuring is es...