BMS is letting go of 68 employees in Lawrenceville, New Jersey. The pharma has now cut over 1,000 employees there since April 2024 as part of its cost-cutting measures.
Bristol Myers Squibb continues to aim its cost-cutting measures at Lawrenceville, New Jersey, laying off 68 employees there, according to a Worker Adjustment and Retraining Notification notice. The pharma has now let go of 1,223 people in Lawrenceville since April 2024, including 874 team members this year.
The latest cuts will be effective in multiple waves starting Sept. 25 and ending Jan. 15, 2026. BMS has its headquarters and a location housing its commercialization and late-stage development teams in Lawrenceville. It was not immediately clear if the latest layoffs affect both sites.
The Lawrenceville cuts are part of BMS’ strategic reorganization aimed at saving $3.5 billion through 2027. In April 2024, the company announced it would eliminate about 2,200 jobs by the end of last year as part of an effort to save approximately $1.5 billion through 2025. BMS announced in February 2025 that it was adding $2 billion in savings, with those savings coming from organizational design changes and enhanced operational efficiency, according to a fourth quarter earnings release.
In April, the pharma announced $11.2 billion in first quarter revenue, down 6% year over year. U.S. Q1 revenue of $7.9 billion decreased as well, dipping 7% from the same period in 2024. Nevertheless, those numbers were not the worst-case scenario, as BMS increased its full-year revenue guidance from about $45.5 billion to a range of approximately $45.8 billion to $46.8 billion.
This year’s layoffs in Lawrenceville began in February. The pharma disclosed two rounds of cuts that month totaling 290 employees. The largest workforce reduction came in May, when BMS divulged it was axing 516 people.
Last year, the pharma cut 349 employees in Lawrenceville over three rounds of layoffs: 75 people in May, 79 in September and 195 in November.
