The cutbacks will include manufacturing plants and a variety of office-bound locales. Already, though, the drugmaker has announced its intent to close a plant in Puerto Rico, which employs about 400 people. And word is starting to go out among employees who work at Bristol headquarters on Park Avenue in New York, where such departments as legal, finance and compliance are expected to be trimmed.
"Senior management has previously stated that they've got a $25 billion infrastructure, but a $15 billion revenue organization,'' Lehman Brothers analyst Tony Butler tells Bloomberg News. "These things are companywide. There are no sacred cows.''
By the way, if you would like to listen to the details next week, you can register here.