• Amgen (AMGN) Begins Layoffs

    Shares of biopharmaceutical firm Amgen are off nearly 1% today, after the company reported that it plans to lay off several hundred employees across the U.S. An article in The Providence Journal said that AMGN is cutting about 450 workers in its West Greenwich, Rhode Island, plant, while dropping another 675 workers at its Thousand Oaks, California, headquarters. Industry watchers may remember that on August 15 the company announced plans to layoff about 12% to 14% of its staff as part of a major restructuring plan.