Updated: Bristol Myers plans $1.5B in cost cuts, including 2,200 jobs, as CEO promises more ‘agile’ company
The “transition period” that Bristol Myers Squibb CEO Chris Boerner promised was coming to the company appears to have arrived.
On Thursday, the pharma giant said it would undertake $1.5 billion in cost-cutting measures, including changes to the pipeline and the company’s workforce. Bristol Myers will reduce its workforce by 2,200 people by the end of the year, a company spokesperson said. BMS’ stock $BMY was down more than 8% in early Thursday trading.
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