Rumor has it that Bristol-Myers Squibb will announce its long-awaited layoffs this week. The company announced last Spring that layoffs were necessary and that employees affected by the job cuts would be notified during the first week of December 2007. Most of the layoffs will likely occur at BMSs' New York headquarters. Job cuts are also anticipated in sales and at several manufacturing sites.
Industry analysts believe that the company plans to announce a 10 percent to 20 percent cut in its workforce over the next three years to cut costs and save money. Also it is likely that BMS will close or sell off more than half its 38 manufacturing sites.
OK, for who ?
