Amgen to reduce workforce by up to 15%

|About: Amgen Inc. (AMGN)|By:, SA News Editor

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