Bristol Myers Squibb plans to lay off 265 employees at its Princeton headquarters, according to a notice filed with the New Jersey Department of Labor.
The layoffs are scheduled to begin Dec. 17, 2026, and continue through May 21, 2027, according to the filing, posted to the state labor department’s WARN Act archive.
The notice marks the third round of New Jersey layoffs the pharmaceutical company has disclosed this year, following notices for 247 jobs in February and 206 jobs in April.
The company’s cumulative New Jersey job cuts since January 2025 now total more than 1,700 positions, according to state filings.
The reductions are part of a multi-year initiative, announced in February 2025, aimed at cutting $2 billion in costs by the end of 2027.
Chief Executive Officer Chris Boerner told investors at the J.P. Morgan Healthcare Conference in January that the company is “well on its way” to delivering those savings.
Latest WARN Act layoff notices filed with the state Department of Labor.
| Date added ▼ | Employer ▼ | City ▼ | Workers ▼ |
|---|---|---|---|
| Sep 22, 2026 | Bristol Myers Squibb | Princeton | 265 |
| Sep 21, 2026 | Johnson & Johnson Services Inc | New Brunswick | 87 |
| Sep 17, 2026 | Headquarters Hotel Mgmt, LLC d/b/a Sheraton Atlantic City Convention Center Hotel | Atlantic City | 91 |
| Sep 16, 2026 | Wonder Group, Inc. | Parsippany | 533 |
| Sep 15, 2026 | Barrette Outdoor Living | Egg Harbor City | 59 |
| Sep 15, 2026 | Banker Steel, a Division of Schuff Steel | South Plainfield | 115 |
| Sep 14, 2026 | Fiserv Solutions LLC | Berkeley Heights | 98 |
| Sep 10, 2026 | Educational Testing Service | Princeton | 62 |
| Sep 9, 2026 | UBS | Weehawken | 41 |
| Sep 9, 2026 | Merck & Co | Rahway | 54 |
The filing does not specify which positions will be eliminated or whether displaced workers will qualify for rapid-response employment services.
The notice affects workers based in New Jersey, as well as some out-of-state employees that technically report to sites in the Garden State.
Bristol Myers Squibb reported $48.2 billion in revenue and $7.05 billion in net income for 2025, according to the company’s fourth-quarter and full-year earnings release.
The company has projected 2026 revenue of $46 billion to $47.5 billion.
