Hundreds face layoffs as biotech company cuts jobs in Eastern Mass.

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Hundreds face layoffs as biotech company cuts jobs in Eastern Mass.

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Hundreds face layoffs as biotech company cuts jobs in Eastern Mass.

//science-technology.news-articles.net/content/2 .. s-biotech-company-cuts-jobs-in-eastern-mass.html

Published in Science and Technology on Wednesday, May 21st 2025 at 9:02 GMT by MassLive
^{🞛 This publication is a summary or evaluation of another publication 🞛 This publication contains editorial commentary or bias from the source}

News of the layoffs come just one day after the company reported a 5% year over year revenue increase â€” boosting revenue to $11.4 billion.

Hundreds of employees at a biotech company in Eastern Massachusetts are facing layoffs as part of a broader cost-cutting initiative announced in early 2025. The company, which specializes in developing innovative treatments for rare diseases, cited challenging market conditions and the need to streamline operations as reasons for the job cuts. The layoffs are expected to affect various departments, including research and development, manufacturing, and administrative roles. Local officials and labor unions have expressed concern over the impact on the community and are working to provide support and resources to the affected workers. The company has stated that it remains committed to its mission but must adapt to ensure long-term sustainability.

Read the Full MassLive Article at:
[ https://www.masslive.com/news/2025/02/hundreds-face-layoffs-as-biotech-company-cuts-jobs-in-eastern-mass.html ]