This is a restructuring move the article states and it’s not due to lost revenue that’s for sure. The Bothell, Washington operation will be closed impacting 600 jobs in Seattle and 50 at the manufacturing plant and it currently is the largest biotech employer in the area.
Biotech giant Amgen Inc. said it would lay off up to 2,900 employees and close facilities in Washington state and Colorado, as the Thousand Oaks company moved to reign in expenses and focus on new drugs.
Those cuts could amount to nearly 15% of its 20,000 worldwide employees. Amgen said it would use the savings -- as much as $700 million a year -- to support global launches of new products.
Word of the cuts came as the company announced strong second-quarter results that beat Wall Street estimates.
Bradway did not say how many of the job cuts would be at its sprawling Thousand Oaks campus. He said the company intends to focus on "reducing layers of management" as part of the cuts.
Amgen announced the cuts on the same day that it said it posted a 23% increase in second-quarter profit. Revenue was up 11%, the company said.
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