Report: Amgen looks at layoffs in restructuring

For years, Amgen towered over the rest of the biotech industry like a colossus. Big, rich and influential, it set the mold for what smaller biotechs hoped to imitate as they aspired to join Amgen as one of a handful of Big Biotech companies. Now Amgen's looking a lot like a Big Pharma company as regulators tear into key markets, aging therapies face fresh competition and all those big pipeline hopes fail to perform as fast as the analysts would like. According to a major profile in the Los Angeles Times, these dark times have triggered a secret restructuring plan that includes laying off as many as 15 percent of its workers. And the high spirits among high-paid employees has been replaced by a dour outlook on the future.

- read the article on Amgen from The Los Angeles Times

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