Bristol Myers to Lay off 863 Jobs in Accordance with Savings Campaign

Beginning in June, a state-issued Worker Adjustment and Retraining Notification (WARN) alerting states that BMS is terminating around 863 staff members in Lawrenceville, New Jersey. Based on the state filing, there were 75 layoffs in Lawrenceville in March before this most recent round of personnel cutbacks.

The action is a part of BMS’s plan to reduce expenses by $1.5 billion by the latter part of 2025, an email from a corporate representative verified. During the drugmaker’s Q1 earnings call in April, BMS disclosed the strategy and stated that it anticipated eliminating about 2,200 positions by 2024.

According to BMS’s explanation in April, the project would involve site closures, a “reduction of management layers,” and a “reduction of of third-party spending.” It will also involve a “pipeline rationalisation.”

The company’s principal objective is to redeploy its savings, and in April, chief commercial officer Adam Lenkowsky identified the cell treatment Breyanzi as one of the company’s most exciting products.