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A fourth wave of layoffs is coming to pharma Bristol Myers Squibb, which is headquartered in the Princeton area.

In a filing with the New Jersey Department of Labor & Workforce Development, the company said it plans to eliminate 68 positions at its facilities in Lawrenceville between September 2025 and January 2026.

BMS did not disclose which workers the latest reductions will impact or where they will take place. In Lawrenceville, Bristol Myers Squibb has two sites. In addition to its corporate headquarters, BMS also has a 650,000-square-foot facility for the company’s commercial and R&D teams.

A spokesperson for BMS told NJBIZ, “We remain focused on developing and delivering transformational medicines to patients around the world and continue to deliver on our long-term business strategy by aligning resources to best support our operating model and our portfolio evolution.

“Unfortunately, there were impacts to some of our employees as a result of these changes noted above. We are grateful for the contributions of our colleagues and a top priority for us is supporting employees throughout the transition process,” the representative continued.

Within New Jersey, the company has already issued 806 pink slips this year as part of an ongoing restructuring effort.

Under a “strategic productivity initiative” announced in February, BMS aims to slash $2 billion in costs by the end of 2027. The move came less than a year after the company unveiled plans to save $1.5 billion via the layoff of some 2,220 employees.

Beyond New Jersey, the company closed a manufacturing plant in Illinois that handled viral vector production. After transferring operations to Massachusetts, the move resulted in 133 positions being downsized. BMS also laid off 57 employees from a California site in April.

The latest cuts in New Jersey come on the heels of more than 1,300 layoffs last year at BMS.

Editor’s note: This story was updated at 7:20 a.m. EST July 20, 2025, to include a statement from Bristol Myers Squibb.