Bristol Myers Squibb announced 247 layoffs in 2026, affecting 0.7% of its 34,000-person workforce. The company cited nj warn. $2b cost-cutting plan. 1,200+ nj jobs cut since initiative began. phased through december. The cuts are part of a broader pattern of workforce reductions across the Pharma sector in 2026, where companies are restructuring operations in response to changing market conditions, AI adoption, and margin pressure.