Advertisement

HEALTH

Share
From Times Staff and Wire Reports

Bristol-Myers to Cut 2,200 Jobs: Bristol-Myers Squibb Co. said it plans to cut 6% of its work force early next year. The pharmaceutical company said pressures to contain health care costs and restrictions on its ability to market products prompted the move. The layoffs are expected to come by the first quarter of 1993 and will result in a one-time charge, which the company did not disclose. The announcement came after Bristol-Myers unveiled plans to sell its household products business to S.C. Johnson Wax for $1.15 billion in cash. On the New York Stock Exchange, Bristol-Myers stock was up 87.5 cents at $68 a share.

Advertisement