The pink slips are starting to go out at Amgen. In a follow-up to the biotech giant's announced restructuring [1], Amgen is laying off 675 of the 8,300 employees who work at its corporate headquarters in Thousand Oaks, CA. Amgen says it will lay off up to 14 percent of its workforce as it trims close to two billion dollars in costs. The restructuring was prompted by a drop in its revenue from lower sales of the anemia drug Aranesp.
- read the report [2] from the San Jose Mercury News
- see Amgen's original announcement [3] on the layoffs
ALSO: Dealing another blow to Amgen's fortunes, Medicare announced today that it won't reverse its decision to cut reimbursements for anemia drugs. Report [4]
Related Articles:
Amgen discusses the future with analysts. Report [5]
Amgen makes big workforce, budget cuts. Report [1]
Major challenges loom for Amgen. Report [6]
Amgen in crisis? Not us, says CEO Sharer. Report [7]
Amgen layoffs: Good news for Ventura County? Report [8]
Links:
[1] http://www.fiercebiotech.com/story/amgen-makes-big-workforce-budget-cuts/2007-08-16
[2] http://www.mercurynews.com/breakingnews/ci_6992862?nclick_check=1
[3] http://www.fiercebiotech.com/press-releases/press-release-amgen-expects-reduce-staff-12-14-percent
[4] http://www.fiercepharma.com/story/medicare-upholds-anemia-drug-cuts/2007-09-25
[5] http://www.fiercebiotech.com/story/amgen-discusses-future-analysts/2007-09-11
[6] http://www.fiercebiotech.com/story/major-challenges-loom-for-amgen/2006-10-26
[7] http://www.fiercebiotech.com/story/amgen-in-crisis-not-us-says-ceo-sharer/2007-04-17
[8] http://www.fiercebiotech.com/story/amgen-layoffs-good-news-ventura-county/2007-09-10