Amgen To Lay Off 350 Former Horizon Workers Following Buyout
Post-merger layoffs in the biopharma industry are frequently a question of when and how many.
They came quickly in the case of Amgen's $27.8 billion buyout of Horizon, which was announced last December and completed earlier this month. According to a spokesperson, approximately 350 former Horizon employees have been informed that their positions will be eliminated where there is "overlap with existing teams at Amgen."
Separation dates will begin on 30 December of this year and will last until December 2024, according to the company.
More than 80 per cent of former Horizon employees in the United States have been "placed in Amgen roles, reflecting the knowledge and capabilities we need to continue serving patients suffering from rare diseases," according to the spokesperson.
Amgen has been on a cost-cutting binge this year, laying off 300 workers in January and 450 more in May, blaming "intensifying pressure on drug prices and high inflation." The company had over 25,000 employees at the start of the year.
According to an Amgen spokesperson, the company now employs approximately 26,700 people worldwide as a result of the Horizon buyout.
