Thread regarding Bristol-Myers Squibb Co. layoffs

Cutting

Back in Nov or Dec or last year we announced a restructuring project that would cut up to 1% of R&D costs - this is roughly 70 jobs. Some other areas would hire though. The reduction would take place in the early stage discovery in diabetes, neuroscience and hep C. No impacts on immunotherapy division(Alzheimers' OK too)...

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Bristol-Myers Squibb to layoff 78 employees

Published: November 3, 2015 | Last Modified: November 3, 2015 08:12PM

By Eric Vo Record-Journal staff

WALLINGFORD — Continuing with a plan to close its Research Parkway facility in 2018, Bristol-Myers Squibb Co. expects to lay off 78 employees between Dec. 31 and March 1, 2016, according to a notice filed with the state.

The company filed a WARN notice on Oct. 27.

Per the Worker Adjustment and Retraining Notification Act, a company with over 100 full-time employees must provide 60-days notice of a plant closing or mass layoff, according to the state Department of Labor.

The layoffs are associated with the company’s decision to close the Wallingford facility in 2018, Sarah Koenig, a company spokeswoman, said Tuesday.

The plans are a part of the company’s decision to “expand its presence within hubs of scientific excellence and innovation,” according to a company statement.

In addition to closing the Wallingford facility — the company’s only location in Connecticut — Bristol-Myers is relocating up to 800 employees. Many of the jobs will stay in state, while others are moving to Cambridge, Mass., and New Jersey.

Up to 500 employees will move to a new, as-of-yet undisclosed, location in Connecticut. About 200 employees from Wallingford will be relocated to Cambridge and about 100 will be relocated to New Jersey.

Tim Ryan, the town’s economic development specialist, has been meeting with representatives from the company in an effort to have the drug maker maintain a local presence.

“They’re keeping 500 jobs in the state of Connecticut and we’re working very diligently to keep those jobs here,” Ryan told the Record-Journal in October. “We feel strongly we need to be involved in the conversations early and we have been.”

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