Bristol-Myers Layoff Job cut: to fire 800 employees, 4300 by 2010

Bristol-Myers one of the largest drug and medicine making company of the world has decided to go for massive layoffs - around 800 employees will be fired by the company by the year end. This is another setback to the ailing job market and industry of the USA.

How many employees will be fire in the Bristol-Myers Layoffs?
Around 800 jobs will be cut by Bristol-Myers by the year end of 2009. This will be around 10 percent of the total workforce of Bristol myers. A total of 4300 jobs will go by the year 2010.

What are the primary reasons of the Bristol-Myers Layoff Job cut
The primary reason is economic downturn and decrease in demand,

Which jobs will be affected by the Bristol-Myers Layoff Job cut
The New York-based company says it will eliminate 800 positions by the end of 2008, including filled and vacant jobs worldwide.

How much savings is estimated by the Bristol-Myers Layoff Job cut
Bristol-Myers Squibb job cuts are expected to save around $1 billion by 2012

As per the news, The cost reductions are intended to take effect during Bristol-Myers' "patent cliff" period in 2011 to 2013, when key drugs like its blood thinner Plavix, bipolar disorder treatment Abilify and blood pressure drug Avapro are expected to face low-cost generic competition, which will likely lead to falling revenue.


In October, Merck said it would cut 7,200 jobs by 2011.

Let's hope that alternative jobs are available to the affected employees of Bristol-Myers Layoffs Job Cut