Bristol Myers Squibb Plans To Cut 261 San Diego Jobs Following Turning Point Acquisition

By Editor, Times of San Diego

September 17, 2022

Two drugmakers told California officials that they plan to cut up to 360 jobs in the state in unrelated moves, according to public notices filed and made public earlier this week.

Bristol Myers Squibb plans to cut up to 261 jobs in San Diego, according to the filings. A company spokesperson said the job cuts follow the company’s $4.1 billion acquisition of drug developer Turning Point Therapeutics, headquartered in Torrey Pines.

The deal closed in August.

The conglomerate’s local location, near Torrey Pines, joins its other California sites in San Francisco, Brisbane and Redwood City. In a Bristol Myers Squibb fact sheet about its California operations, the company said it employed 681 people in the state as of December 2020.

“All incoming employees received retention packages tied to continued service to BMS for a period of time and have been encouraged to apply to long-term roles at BMS after their retention period ends,” the spokesperson said in an email.

Separately, AbbVie Inc. plans to cut up to 99 jobs in Irvine, the company told the state. The firm did not respond to a request for comment.

The job cuts were previously reported by Endpoints News.

– Reuters and staff reports

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