Jobs to go in major restructure

Posted 29 April 2024 PM

BMS has unveiled a  major restructure to deliver US$1.5 billion in cost savings by the end of 2025 but it will come with the loss of six per cent of the company's global workforce - or 2200 jobs - by the end of this year.

News of the Strategic Productivity Initiative was announced alongside the release of the company's first quarter financial results 2024. The restructure will also see BMS slim down its pipeline, cutting "about 12" programs, as well as consolidating its offices and laboratories and pulling back on third-party spending.

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