Bristol-Myers Squibb to cut 800 jobs
Bristol-Myers Squibb said on Tuesday it would cut another 10 percent of its global workforce by 2010 as part of a cost-savings plan that had already targeted thousands of jobs.
The New York-based drugmaker declined to quantify the number of new job cuts, other than to say that 800 filled or vacant positions would be eliminated by the end of 2008.
Bristol-Myers, girding for generic competition for its blockbuster Plavix blot clot preventer and other medicines, announced in December 2007 it would cut 10 percent of its workforce, or 4,300 positions, in order to achieve cost savings of up to $1.5 billion by 2010.
The company said in July that it was expanding the cost-savings plan, aiming to reap an additional $1 billion in cumulative cost savings by 2012 through unspecified actions. At the time, it did not mention any new job cuts.
From Reuters
