Thermo Fisher Scientific Continues Workforce Reduction with 300 Layoffs in Massachusetts
Thermo Fisher Scientific is laying off 300 employees at its viral vector facilities in Cambridge and Plainville, Massachusetts6.
The layoffs are expected to begin on March 30, 2025, according to a WARN notice9.
This is part of an ongoing series of workforce reductions by Thermo Fisher, following previous cuts in 2023 and 20242.
The company is restructuring its viral vector production network, which is used in the manufacturing of cell and gene therapies2.
These cuts reflect changes in demand for viral vectors and Thermo Fisher's efforts to optimize resources across its manufacturing network2.
The layoffs are part of a broader trend of job cuts in the biotechnology and pharmaceutical industries, with many companies implementing cost-saving measures14.
Thermo Fisher's global headcount decreased from approximately 130,000 at the end of 2022 to approximately 122,000 at the end of 20232.
The company has been particularly active in reducing its workforce in California, with multiple layoff filings throughout 20232.
These latest cuts affect Thermo Fisher's operations in the cell and gene therapy sector, an area that has seen fluctuating investment and demand in recent years2.
The layoffs come as part of Thermo Fisher's efforts to streamline operations and adjust to changing market conditions in the biotechnology industry6.
Sources:
1. https://www.biospace.com/bms-decision-to-lay-off-2-200-employees-comes-after-m-and-a-spending-spree
2. https://www.medtechdive.com/news/Thermo-Fisher-Lexington-closing-Cambridge-Plainville-layoffs/733029/
4. https://www.biospace.com/biospace-layoff-tracker
6. https://www.fiercepharma.com/manufacturing/revenue-thermo-fisher-its-layoff-roll-continues-300-slashed-massachusetts
9. https://endpts.com/thermo-fisher-to-lay-off-300-workers-at-two-viral-vector-factories/