The hits just keep on coming for Bristol Myers Squibb staffers amid the company's cost-savings program.
The dr-gmaker is laying off an additional 79 staffers in Lawrenceville, New Jersey, according (PDF) to a Worker Adjustment and Retraining Notification (WARN). The company confirmed the cuts, which will be effective between Dec. 12 and May 30 of next year.
BMS did not reveal which employees will be affected or where the cuts will take place between its two sites in Lawrenceville. The company’s setup there includes its corporate headquarters on Route 206 and its Princeton Pike location, three miles away, which houses BMS’ commercial and late-stage development teams.
The dr-gmaker confirmed that the dismissals are part of a savings drive, which was revealed during its first-quarter earnings presentation in April and is designed to reduce costs by $1.5 billion by the end of 2025. When it announced the plan, BMS said it expected around 2,200 roles to be chopped in 2024, which would reduce its head count by 6%.
https://www.fiercepharma.com/pharma/bristol-myers-squibb-axes-79-more-nj-15b-cost-reduction-program-rolls