Bristol-Myers Squibb (BMS) made a presentation this morning at the Credit Suisse Healthcare Conference that showed the company plans on saving an additional $2.5 billion in “productivity initiatives.” According to its new CFO, the company plans to squeeze the savings out of “headcount and related costs” — which likely means more downsizing and layoffs. Rumors have it that these job cuts will take place by December 1, 2008 just prior to when employee bonuses are traditionally decided.
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