New Delhi, July 29 -- US pharmaceutical company Merck announced on Tuesday that it would cut jobs as part of a cost-reduction plan aimed at saving $3 billion annually by 2027.

"The Company approved a new restructuring program, in which it expects to eliminate certain administrative, sales and R&D positions," reported AFP, citing a company statement.

Merck also lowered its revenue forecast for 2025 slightly.

The company did not specify how many posts would be affected, but mentioned that it would continue to hire employees "into new roles across strategic growth areas of the business."

The plan involves Merck decreasing its "global real estate footprint" and further optimising its manufacturing network.

The announcement followed Washi...