Pharmaceutical Giants J&J and Bayer Announce Layoffs of Nearly 300 Employees in New Jersey

Layoff Numbers:
Johnson & Johnson (J&J) and Bayer are collectively laying off almost 300 employees in New Jersey.

J&J Layoffs:
J&J plans to eliminate 231 positions in New Brunswick, New Jersey, effective December 27, 2024.

Bayer Layoffs:
Bayer is laying off an additional number of employees in New Jersey, though the exact figure is not specified in the provided sources. However, it is part of a broader restructuring effort that includes previous layoffs in the state.

Industry Context:
The layoffs are part of a larger trend in the pharmaceutical industry, with several major companies announcing significant job cuts in 2024, including Bristol Myers Squibb, Pfizer, and Takeda.

Reasons for Layoffs:
The companies cite the need to adapt and evolve their businesses in a rapidly changing external environment, aiming to streamline operations and focus on strategic priorities.