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Amgen Inc raises FY 2014 outlook and announces job cuts


Tuesday, 29 Jul 2014 04:38pm EDT 

Amgen Inc:Expects FY 2014 total revenues to be in the range of $19.5 - $19.7 bln.Expects FY 2014 adjusted EPS to be in the range of $8.20 to $8.40.FY 2014 revenue of $19.4 bln, EPS of $8.07 - Thomson Reuters I/B/E/S.Announces restructuring plan to invest in continuing innovation and launch of new pipeline molecules.Efforts include streamlining organization, reducing layers of management, increasing managerial spans of responsibility and beginning implementation of a revised geographic site plan.Says will close facilities in states of Washington and Colorado.Says to reduce staff by 2,400-2,900 beginning this year and continuing through 2015. 

Company Quote

170.17
1.69 +1.00%
19 Dec 2014