Biotech giant faces another round of job cuts




LAYOFFS—Thousand Oaks-based Amgen announced another round of workforce reduction last week, marking the second this year. Acorn file photo

LAYOFFS—Thousand Oaks-based Amgen announced another round of workforce reduction last week, marking the second this year. Acorn file photo

Amgen is laying off more workers in Ventura County.

The biopharmaceutical giant said March 16 that it will eliminate about 450 jobs, less than 2% of its global workforce.

That’s on top of 305 cuts announced in late January.

In a statement, the company cited “intensifying pressure on drug prices and high levels of inflation” as reasons for the layoffs.

Amgen employs more than 5,000 people in Thousand Oaks, where the company is headquartered.

Company spokesperson Megan Fox declined to provide a breakdown of job losses by location, but said, “Less than 5% of roles in Thousand Oaks have been impacted.”

Asked if the cuts were focused in any particular area, Fox responded only that “various functions” within Amgen have been affected.

The previous round of layoffs primarily hit the drugmaker’s commercial division, impacting sales and marketing positions. But less than 20% of the January cuts were jobs located in T.O., Fox said. Those layoffs go into effect on March 31.

The company said it would offer transition services and severance to the affected workers, “ensuring they are treated with respect for their contributions.”

Ventura County’s largest private employer, Amgen has a global staff of around 25,000.

The company’s 2022 fourth-quarter earnings exceeded Wall Street expectations. Amgen had $6.8 billion in revenue between October and December last year, placing its 2022 revenues at more than $26 billion.