Business

Amgen Lays Off 300 Employees–Company Profits Average over $5 Billion a Year

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Here’s part of that big job question once again.  Do 300 employees really affect the bottom line?  The company says it’s part of a restructuring process, we hear that all the time.  Where are the jobs going to come from?  

Here’s part of that big job question once again.  Do 300 employees really affect the bottom line?  The company says it’s part of a restructuring process, we hear that all the time.  Where are the jobs going to come from?  

Overall the company has reduced it’s size from 20k to around 17k employees over the last couple of years. In January of this year they did acquire a biotech company in Massachusetts and was cited to pay around $1billion for the company who is in phase 3 clinical trials, so sorry employees acquisitions take priority this time it appears, and again where are new jobs going to come from? 

Amgen to Acquire BioVex, a Privately Held Biotechnology Company in Massachusetts

In addition, Boehringer Ingelheim took over their Fremont, California location so all employees will now report to Boehringer Ingelheim, which has it headquarters in Germany at the beginning of this year too.  BD 

Word came out of Amgen last week that it was looking to overhaul its R&D operations, and today the biotech giant confirmed the overhaul is translating into job cuts for 380 people across the company.

Thousand Oaks, CA-based Amgen (NASDAQ: AMGN) notified 380 employees internally today that their jobs are being eliminated as part of the company’s effort to improve focus and re-allocate R&D resources, according to company spokeswoman Mary Klem. Amgen isn’t closing any of its research sites around the world, but people are being laid off at its major U.S. R&D sites in Thousand Oaks, Seattle, San Francisco, and Boston, Klem says.

Here’s the breakdown of job losses at each major Amgen site, according to Klem.

—Thousand Oaks, CA (226)

—Seattle/Bothell, WA (69)

—South San Francisco (37)

—Cambridge, and Woburn, MA (32)

—United Kingdom (the remainder, about 15)

http://www.xconomy.com/national/2011/10/19/amgen-confirms-380-layoffs-in-r-cuts-coming-to-seattle-sf-boston/

 

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