Bristol Myers Squibb plans to eliminate 516 positions at its facilities in Lawrenceville, New Jersey, as part of the company’s broad restructuring plan.
According to the NJ WARN notice, the layoffs will come in multiple waves between May 2025 and March 2026.
BMS has two Lawrenceville sites — one that hosts is corporate headquarters and labs and another with a 650,000-square foot facility that handles late-stage development and commercialization. It is not clear which sites will be affected by the layoffs.
Back in February, BMS revealed that it was expanding its existing strategic productivity initiative to include approximately $2 billion in additional annualized cost savings by the end of 2027. According to BMS, under the expanded initiative, “savings will be driven by changes in organizational design and efforts to enhance operational efficiency.” That month, BMS disclosed that it would let go of 67 individuals in Lawrenceville between April and December 2025. A few weeks later, the company reported that 223 employees would be let go starting in May and ending in August.