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Bristol-Myers Squibb downsizing

This article was originally published in The Rose Sheet

Executive Summary

Firm's restructuring and realignment plan, announced Jan. 4, includes reduction of employees by approximately 5,000 worldwide over the next two years. The restructuring will affect employees of the firm's consumer products, nutritionals, pharmaceuticals and medical devices businesses as well as headquarters staff, the firm states. Most of the cuts will be in the company's Pharmaceutical Group, which will be reorganized into 12 regional business units in the U.S. Eleven business units will be formed in Europe covering all Bristol-Myers Squibb product categories
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