The ax is starting to fall [1] at Bristol-Myers Squibb. The company has started notifying employees that they'll soon be out of a job. Details on how many jobs will be cut and which areas will feel the most pain are expected next Wednesday during Bristol's conference call with analysts.
Laid-off workers will get severance, plus help finding new jobs. Many of them are probably already looking, considering the fact that CEO James Cornelius (photo [2]) has been talking layoffs since July. The conference call will be webcast for the public, in case anyone wants to hear the news firsthand.
- see the release [3] about the webcast from BMS
- read the Post-Standard report [4]
Related Articles:
BMS to unveil layoffs, manufacturing cuts. Report [1]
Cornelius get big payday for BMS temp job. Report [1]
Better times ahead for BMS? Report [5]
Links:
[1] http://www.fiercepharma.com/story/bms-unveil-layoffs-manufacturing-cuts/2007-11-20
[2] http://www.fiercebiotech.com/story/image-bristol-myers-ceo-james-cornelius/2007-11-02
[3] http://www.fiercebiotech.com/press-releases/press-release-bristol-myers-squibb-webcast-december-5-business-update
[4] http://www.syracuse.com/articles/business/index.ssf?/base/business-11/119633078926830.xml&coll=1
[5] http://www.fiercebiotech.com/story/spotlight-better-times-ahead-for-bms/2007-04-23