Layoffs in BMS here

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Layoffs were seen as something that was overdue since BMS bought Celgene, but the integration was still unfinished. Even though the deal was done, merging the systems, processes, and operations was dragging on, creating overlaps and inefficiencies. Cutting jobs was a move to streamline things, get both companies working as one, and make better use of resources to hit the goals BMS had set after the acquisition.

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hence now the acquired companies layoffs are pretty fast and brutal...

What departments hit?

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Hits to some finance and strategy functions too

More to come probably…

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I wonder if this is something that may occur for AbbVie considering their acquisitions lately…

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