Bristol Myers Squibb will lay off 516 employees from its Lawrence Township location, beginning next week, according to a WARN notice.
It’s unclear how many employees will be let go – but the process will begin on May 9 and go through March 27 of 2026.
Bristol Myers Squibb, headquartered in Princeton, is one of the world’s largest pharmaceutical companies with approximately 30,000 across.
The latest cuts are in addition to another 290 layoffs in New Jersey the company announced in February. So far this year, BMS has disclosed via WARN notices that it’s cutting 863 employees total, 93% of whom are in Lawrenceville, according to BioSpace.
The cuts are part of a process in which the company hopes to save $1.5 billion through the end of this year – and $3.5 billion through the end of 2027.
In an email to BioSpace, a company spokesperson said: “We remain on track to deliver $1 billion of these savings by the end of this year.”
