Bristol Myers Squibb and Kyowa Kirin Announce New Rounds of Layoffs in New Jersey
Bristol Myers Squibb (BMS) is laying off 67 workers in New Jersey as part of its ongoing cost-cutting initiative5.
Kyowa Kirin will cut 52 employees at its Princeton, New Jersey location, effective May 1, 20252.
These layoffs are part of broader restructuring efforts by both companies:
BMS aims to reduce costs by $1.5 billion by the end of 20253.
BMS has already cut 1,134 jobs in New Jersey in 20243.
BMS previously announced plans to eliminate 195 positions between February 13, 2025, and December 31, 2025, at its Lawrenceville site38.
The pharmaceutical industry in New Jersey continues to face significant job cuts, with other companies like Novartis also reducing their workforce in the state3.
BMS has recently unveiled a new "strategic productivity initiative" to cut an additional $2 billion in costs by the end of 202710.
These layoffs are part of a larger trend in the pharmaceutical and biotech industries, with many companies implementing workforce reductions to optimize operations and reduce expenses127.
Sources:
1. https://www.pharmalive.com/layoff-tracker-bms-alector-and-medigene-part-ways-with-staff/
2. https://www.biospace.com/biospace-layoff-tracker
3. https://njbiz.com/fresh-wave-of-health-care-layoffs-hits-nj-at-novartis-bristol-myers-squibb/
5. https://ground.news/article/bristol-myers-kyowa-kirin-disclose-layoffs
7. https://www.fiercebiotech.com/biotech/fierce-biotech-layoff-tracker-2025
8. https://firstwordpharma.com/story/5916381
10. https://www.fiercepharma.com/pharma/bristol-myers-squibb-unveils-plan-cut-additional-2b-costs