Bristol-Myers Squibb will lay off 69 employees from its Tampa, Fla.-based facility Jan. 31, according to The Tampa Bay Business Journal.
The move comes just four years after the company opened an office in Tampa, bringing about 600 jobs ot the area.
"The decision is consistent with the evolution of the company's operating model announced in October 2016 to focus resources behind its highest priorities, accelerate its pipeline and simplify infrastructure," Sarah Koenig, a spokesperson for Bristol-Myers told The Tampa Bay Business Journal.
Affected employees were notified Nov. 14. They will receive a severance package and will be considered for open positions.