As the drugmaker’s cost-cutting campaign takes off, its aviation department is being grounded - apparently, permanently. We actually noted this development yesterday, but The Times of Trenton has a few more details we thought we would share with you.

To be specific, Bristol-Myers Squibb plans to sell four aircraft and dismiss about 32 employees, mostly pilots and mechanics, who work at Trenton-Mercer Airport. Other drugmakers with aviation operations at the airport include Pfizer, Johnson & Johnson and Merck, the paper notes.

Being put up for sale are two Gulfstream V jets and two Sikorsky S-76C helicopters. The jets could sell for approximately $40 million each depending on their age, according to Wolcott Blair, vp and general manager at Ronson Aviation, which has three corporate hangars at the airport. The helicopters could fetch $6 million each, according to GlobalPlaneSearch.com and other data, the paper writes.

One question that remains unanswered is whether Bristol ceo Jim Cornelius will now have to take commercial flights or Amtrak to those out-of-town meetings. We will let you know once we hear back from the drugmaker.