Bristol Myers Squibb plans to lay off 516 employees at its Lawrence Township facilities starting this week, according to a notice filed under New Jersey’s Worker Adjustment and Retraining Notification (WARN) Act.
The job reductions will take place in phases through March 2026. Two earlier WARN filings this year also listed layoffs at the company’s Lawrence Township sites, bringing the total number of planned cuts to more than 800 in 2025.
The company has not specified which of its two Lawrenceville campuses will be affected. BMS operates a Route 206 site that houses corporate headquarters and research functions, and a Princeton Pike location with commercial, product development, and enabling teams.
While Bristol Myers Squibb has not publicly commented on the latest layoffs, the cuts align with a broader company-wide initiative aimed at reducing costs. In its fourth-quarter 2024 earnings release, BMS announced plans to achieve $2 billion in additional savings by the end of 2027 through organizational redesign and operational streamlining. The company reiterated that initiative in its first-quarter 2025 results, reporting a 6% year-over-year decline in revenue driven by generic competition and changes to Medicare drug pricing.
The layoffs were not mentioned in either financial report but were disclosed through official WARN notices filed with the New Jersey Department of Labor.
Under the state’s updated WARN law, employers with at least 100 workers must provide 90 days’ notice of large-scale layoffs and offer severance pay to affected employees.
Bristol Myers Squibb is among the largest pharmaceutical companies globally, with its corporate headquarters located in Princeton. With a workforce exceeding 34,000 employees worldwide, BMS consistently ranks on the Fortune 500 list of the largest U.S. corporations.
