Biotech company in Eastern Mass to cut hundreds of jobs

A biotechnology company based in Waltham, Thermo Fisher Scientific, has announced layoffs for 300 employees in Cambridge and Plainville, Massachusetts, as per state filings. The company filed a Workers Adjustment and Retraining Notice (WARN) with the Commonwealth of Massachusetts on January 31, with the layoffs expected to take effect by March 30. This decision comes shortly after the company reported a 5% revenue increase in Q4 2024.

In response to queries about the layoffs, the company issued a statement emphasizing its commitment to operational efficiency and customer service. The company stated, “Thermo Fisher Scientific continuously evaluates opportunities to enhance our operational efficiency and better serve our customers. In light of recent shifts in customer timelines and utilization needs, we are making strategic business adjustments.”

This recent announcement follows a previous round of layoffs in November 2024, where 160 employees across three facilities in Cambridge, Lexington, and Plainville were affected. The company had previously indicated its intention to close the Lexington facility and expand operations in Plainville, according to reports from FiercePharma.

A company spokesperson attributed the most recent layoffs to changes in customer needs and timelines, reiterating the company’s efforts to adapt its operations accordingly. The spokesperson did not provide specific details about the impact on the Cambridge and Plainville facilities.

Despite the challenges posed by the layoffs, Thermo Fisher Scientific remains optimistic about its overall business prospects. The company’s financial earnings report for Q4 2024 indicated growth in various areas, highlighting its ability to navigate market dynamics and make strategic adjustments to address changing customer requirements.

The layoffs at Thermo Fisher Scientific underscore the fluid nature of the biotechnology industry, where companies are frequently required to reassess their operations in response to evolving market conditions. While the news may be unsettling for affected employees, it reflects the company’s proactive approach to aligning its workforce with changing business priorities.

As Thermo Fisher Scientific moves forward with its restructuring efforts, it underscores the importance of adaptability and strategic decision-making in the competitive biotechnology sector. By prioritizing operational efficiency and customer service, the company aims to position itself for long-term success despite the immediate impact of the layoffs.