Biogen’s largest-ever corporate restructuring began Wednesday, as employees around the world got word they would be laid off by the struggling biotech company, STAT has learned.
A Biogen spokesperson confirmed the layoffs but would not provide an exact number of affected employees. People close to Biogen have said the company will cut about 1,000 jobs — more than 10% of its workforce — through layoffs, voluntary resignations, and the elimination of open positions. Biogen has said it hopes to save about $500 million a year in the process.
The cuts “will help the company remain flexible so additional investments can be made in our pipeline and other strategic initiatives,” Biogen said in a statement. “We appreciate the contributions of our departing colleagues, who will be eligible for severance and support services as they transition out of the company.”
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