Pharmaceutical Giants Bristol Myers Squibb and Kyowa Kirin Announce 119 Layoffs in New Jersey Amid Restructuring Efforts
Bristol Myers Squibb (BMS) and Kyowa Kirin are implementing layoffs affecting 119 employees in New Jersey as part of separate restructuring campaigns410.
BMS plans to eliminate 195 positions between February 13, 2025, and December 31, 2025, as part of its ongoing effort to reduce costs by $1.5 billion by the end of 20251.
The layoffs at BMS are part of a larger initiative announced in April 2024, which aimed to cut about 2,200 roles, amounting to a 6% headcount reduction1.
BMS has already issued 1,134 pink slips in New Jersey in 2024, with previous rounds of layoffs affecting facilities in Lawrenceville, Princeton, Berkeley Heights, Pennington, and New Brunswick1.
The latest round of layoffs at BMS in Lawrenceville involves 79 employees who will leave the company between December 12, 2024, and May 30, 20255.
BMS has two sites in Lawrenceville:
a corporate headquarters and a 650,000-square-foot facility housing employees from commercial and R&D teams1.
The layoffs are part of a broader trend in the pharmaceutical industry, with nearly 100 New Jersey companies announcing more than 13,300 layoffs combined in 20242.
The biopharma sector has seen a 3% increase in layoffs in 2024 compared to 2023, with early indications suggesting continued workforce reductions in 2025 due to economic and operational pressures3.
These layoffs reflect ongoing challenges in the pharmaceutical industry, including economic pressures, funding difficulties, and pipeline failures3.
The specific details of Kyowa Kirin's layoffs were not provided in the given search results, but they are part of the total 119 layoffs mentioned alongside BMS in New Jersey410.
Sources:
1. https://njbiz.com/fresh-wave-of-health-care-layoffs-hits-nj-at-novartis-bristol-myers-squibb/
2. https://bloustein.rutgers.edu/100-companies-announced-13300-layoffs-in-nj-in-2024-heres-how-to-file-for-unemployment/
3. https://vasro.de/en/thermo-fisher-300-jobs-biopharma-layoffs-2025/
4. https://cafepharma.com/boards/threads/bristol-myers-squibb-kyowa-kirin-layoffs-hit-119-in-new-jersey-amid-separate-restructuring-campaigns.706575/post-6936607
5. https://www.biospace.com/job-trends/bms-will-lay-off-79-in-lawrenceville-nj-bringing-citys-employee-cuts-to-1-134