Bristan Myers Squibb is cutting 206 jobs in New Jersey, with the layoffs expected to be completed by the end of 2027. This move is part of the company's plan to save $2 billion by that date. The layoffs come as the company announces a dividend for shareholders and a conference call for its employees. The federal law requires companies with 100 employees or more to provide 60 days' notice of a potential layoff, which can be followed by mandatory severance pay.