Major NJ Pharmaceutical Company Lays Off Hundreds

Bristol Myers Squibb is cutting another 265 jobs at its Princeton-area operations, its third round of New Jersey layoffs this year and part of a broader restructuring plan targeting $2 billion in savings by end of 2027. Combined with earlier cuts announced in February and April, the company has now shed more than 1,700 New Jersey positions since January 2025, with the latest reductions rolling out between December and May 2027.