Bristol-Myers cuts jobs
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Drug maker Bristol-Myers Squibb said it would eliminate an additional 10% of its workforce through 2010 as it worked to pare costs before it loses patent protection on key drugs.
The New York company said it would eliminate 800 positions by the end of 2008, including filled and vacant jobs worldwide.
It estimates that it will save $1 billion by 2012 as a result of the moves, which come on top of $1.5 billion in cost cuts announced in December 2007. Those cuts will eliminate about 4,300 jobs through 2010.
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