SPOTLIGHT: BMS to unveil layoffs, manufacturing cuts

Will Bristol-Myers Squibb join the layoff parade just before Christmas? Industry experts think so. A UBS analyst issued a research report yesterday upgrading BMS stock to a "buy," saying that the company plans to announce a 10 percent to 20 percent cut in its workforce over the next three years. The analyst, Roopesh Patel, also predicts that BMS will close or sell off more than half its 38 manufacturing sites. Report