Germany-based generic company is feeling the economic burn with a mountain of debt. So, the company is looking for ways to stay alive by saving cash and axing 600 employees.

The asses out the door is part of the company’s strategy to annual operating costs by about $125M to make it more attractive for buyers.

Last month, Ratiopharm founder Adolph Merckle committed suicide by throwing himself in front of a train near his hometown of Blaubeuren. It was believed that his cement company was unable to make payments on a huge loan taken out to purchase an English competitor.

Adolph’s family and its creditors also announced today that they’ve named lawyer Klaus Hubert Goerg as the trustee of the VEM Vermoegensverwaltung GmbH investment holding that is at the center of Merckle’s collapsing empire.

Goerg will oversee the possible sale of the family’s shares in Ratiopharm and the cement company.

How much you wanna bet that the 600 laid off people will not take the easy way out and kill themselves like some dude who still had $Billions even after losing most of his unfortunate?

A sad tale of when money obscures reality.

Image from diwapharm.de

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