Amgen Inc AMGN.O announced on Monday that it had laid off approximately 300 U.S. employees, or about 1.2% of its total workforce, citing recent organizational changes in its commercial team.
According to its most recent annual regulatory filing with the US Securities and Exchange Commission, the company had approximately 24,200 employees in over 50 countries as of December 31, 2021.
In recent weeks, major technology companies and Wall Street titans have led a wave of layoffs across corporate America. Amgen’s decision to reduce its workforce demonstrates how rapid interest rate hikes and a fading boom in demand following the pandemic have begun to weigh on the healthcare sector.
According to the spokesperson, the job cuts will primarily affect Amgen’s commercial team and will affect employees based in the United States. The company will provide transitional assistance to those affected.
Current employees also used LinkedIn to support their colleagues and help them find new opportunities, a trend that is expected to continue in 2023.
Amgen is one of many biopharma companies facing layoffs as a result of the current economic downturn.
Celularity launched its strategic review last week, warning employees of potential job cuts. Celularity CEO Robert J. Hariri stated that the business realignment was done to support the company’s most promising candidates and programs.