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Business

Amgen Ups The Ante On Job Cuts

by Rick Mullin
November 3, 2014 | A version of this story appeared in Volume 92, Issue 44

Amgen has increased by as much as 1,100 the number of positions it will eliminate, resulting in 3,500 to 4,000 job cuts by the end of 2015. The layoffs, first announced in August, are part of a program to save $1.5 billion annually by 2018. The biotech firm has not specified where the cuts, amounting to about 20% of its workforce, will occur. Cost-cutting moves at Amgen also include a 23% reduction in facilities. The company says downsizing measures will not affect its Singapore biomanufacturing facility, which is set to open in 2017.

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