Amgens Ventura location downsizing -2,600 employees let go...

Amgens CEO, Kevin Sharer, announced a huge cut in his staff. The reduction in staff is meant to offset their lack-luster performance.

The contributor, or main impact, was falling sales of Amgens anemia drugs.

Amgen needs to reduce operating expenses of a billion dollars. It is reported that this is about 14% of their workforce. The main area hit is their Ventura location - with 2,600 people holding pink slips.