Seeking Alpha

Amgen to reduce workforce by up to 15%

  • Following its announcement of a 23% increase in Q2 earnings yesterday, Amgen (NASDAQ:AMGN) stated its intention to cut its workforce by 12%-15% and close two laboratories in Washington state and two manufacturing plants in Colorado.
  • The layoffs will begin later this year and continue through 2015, eliminating 2,400 to 2,900 positions that will span the range of job types.
  • Through the restructuring, Amgen is hoping to gain additional savings to put toward developing new drugs.
  • AMGN +3.6% AH
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