Bristol-Myers Could Cut More Jobs

There is more potential downsizing going on with big Pharma. Just yesterday an article related to the number of plants set to the be closed in the US. I might guess this could be the sign of more outsourcing overseas. BD

Last year, Bristol-Myers Squibb said it was cutting some 4,000 jobs as part of a plan to save $1.5 billion. This morning, the company said it’s planning “an additional $1 billion of cost savings by 2012” — suggesting more jobs could get the ax. The company said details about the plan — which in the upside-down world of corporatespeak is called a “productivity initiative” — would be released by the end of the year.