Bristol-Myers Squibb
This article was originally published in The Gray Sheet
Executive Summary
Reducing worldwide work force by "approximately 5,000" employees "during the next two years," the company announced Jan. 4. The reductions include 1,500 employees who accepted an early retirement program for U.S. employees announced in September ("The Gray Sheet" Sept. 27, In Brief). The bulk of the cuts (3,000 of the 5,000) are coming from the firm's pharmaceuticals group, which is being reorganized. The remaining 2,000 cuts, including approximately 800 early retirements, will affect the firm's three other businesses -- medical devices, nutritionals and consumer products -- as well as headquarters staff. The RIF/restructuring is expected to be covered by an $890 mil. charge BMS took in the fourth quarter of 1992 for the early retirement program and a 2,200 RIF announced in October 1992
You may also be interested in...
Executives On The Move: Changes At The Top At Enzolytics, Dyne Therapeutics And Seres Therapeutics
Recent moves in the industry include new chief financial officers at LENZ Therapeutics and Botanix Pharmaceuticals, plus new chief medical officers at Vigil Neuroscience and Voyager Therapeutics.
Israel's Gamida Cell Survives By Selling To Lender
Having finally secured US approval for Omisirge, Gamida was hoping to bag a strategic partner for the cell therapy. A year on, no suitable partner has been identified and the firm is delisting from the NASDAQ and going private.
EU Regulatory Assessors Get AI Boost In Reaching Scientific Decisions
The European Medicines Agency is training scientific staff working for the European medicines regulatory network in how to use a new AI-powered search engine that allows them to easily retrieve information on regulatory precedents.