BOULDER, Colo. - Amgen's plan to cut its worldwide workforce will mean the loss of about 430 jobs in Boulder County.
The California-based drugmaker announced Tuesday that it will lay off 12 to 15 percent of its worldwide workforce and close four sites, even as it reported stellar second-quarter results that trounced Wall Street expectations. It says it's restructuring to free up money needed for investments in the business, particularly marketing and other costs for launching new drugs.
The cuts will begin at Amgen's facilities in Longmont and Boulder in the third-quarter. The sites will be completely closed by the end of 2015.
The Longmont Times-Call says the layoffs come nearly two years after the company said it would stop producing Epogen, a drug which was only made at the facility in Longmont.