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Bristol Myers Squibb will lay off at least 290 employees in 2025, according to a Worker Adjustment and Retraining Notification (WARN) notice in February. A company spokesperson confirmed the layoffs to the Daily Voice on Monday, Mar. 3.
The company will begin 223 of those layoffs on Thursday, May 22, and continue them through Friday, Aug. 1.
"We are optimizing operations across the company while prioritizing investments in innovative and transformational medicines where we can deliver the highest value for patients and shareholders," the BMS spokesperson said. "Unfortunately, there have been impacts to some of our employees as a result of these changes. We are grateful for the contributions of our colleagues and a top priority for us is supporting employees throughout the transition process."
The February job cuts are in addition to 67 layoffs announced in a January WARN notice. Those employees will lose their jobs between Thursday, Apr. 4, and Thursday, Dec. 11.
Bristol Myers Squibb is the maker of drugs like blood thinner Eliquis, cancer treatment Opdivo, and rheumatoid arthritis pill Orencia. The company posted $48.3 billion in revenue in 2024, a seven-percent annual increase.
BMS has two facilities in Lawrenceville: its 1.67 million-square-foot corporate headquarters and a 650,000-square-foot center for research and development. The facilities play a key role in developing medicines in areas including cancer, immunology, and cardiovascular diseases.
The spokesperson didn't specify which facility would be impacted by the layoffs. The affected workers have already been notified.
The 290 revealed layoffs come as BMS plans to cut $2 billion in costs by the end of 2027.
"Under this expanded initiative, savings will be driven by changes in organizational design and efforts to enhance operational efficiency," the company said in a February news release about its 2024 financial results. "These savings will be removed from our cost structure to contribute to a leaner, more efficient company while investing behind growth brands and promising areas of science."
BMS has 24 locations worldwide, including two other New Jersey facilities in New Brunswick and West Windsor.
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