Bristol Myers Squibb, while working its way through a major restructuring, has unveiled another round of layoffs in New Jersey.
In Lawrenceville, BMS plans to cut 117 jobs, the company disclosed in a Worker Adjustment and Retraining Notification notice. The Big Pharma firm operates two neighboring campuses in Lawrence Township, New Jersey. One site houses BMS’ corporate headquarters and early discovery functions, while the other hosts the company’s commercial and late-stage development teams.
The trims are expected to start in October this year and stretch into December 2025. BMS didn’t specify the exact functions and location of the jobs affected.
In response to a Fierce Pharma inquiry, a BMS spokesperson pointed to a restructuring unveiled in April. The latest cuts come as part of BMS’ plan to reduce its workforce by 6%, or 2,200 people. The goal is to save $1.5 billion in costs by the end of next year and redirect some of the resources to growth products as the company’s business comes under pressure from patent expirations.
https://www.fiercepharma.com/pharma/bristol-myers-telegraphs-more-layoffs-new-jersey-trimming-117-jobs-staggered-cuts