We'll keep having layoffs for as long as Bristol Myers keeps having transformations and re-transformation that are doomed to fail. How many have field so far? I've lost count.
Instead of investing in R&D, Bristol keeps downsizing it. We had some of the smartest scientist in the field and we lost a number of them to layoffs. Should we then be surprised that most of our clinical trials fail? Which, of course, results in more layoffs. It's shocking to see how many mistakes can be repeated by the same management people without anybody learning anything from them.
Why would they, though? We have Opdivo which we can milk to make sure short-term numbers are high enough to satisfy shareholders for another three months. This will keep management safe, and the rest of us are disposable, as they have proven over and over again.