Finance Watch: Earnings Season Brings Job Cuts, Even At Big Pharma

BMS, Sanofi Reveal Layoffs As They Right-Size R&D

 
• By Mandy Jackson
  
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Restructuring Edition: Even big pharma companies are not immune from workforce reductions. BMS and Sanofi joined that ranks of Evotec, CureVac and BenevolentAI in cutting jobs. Also, Vaxxinity will de-list and Hepion winds down its NASH trial, among other strategic updates.

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Bristol Myers Squibb Company and Sanofi recently joined the ranks of companies cutting costs and jobs in 2024, although not necessarily for the same reasons, as first quarter earnings season got under way in late April.

Strategic Shifts In Depth

BMS said it would cut about 2,200 jobs as it implements a “strategic productivity initiative” under which it will reduce...

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