Thread regarding Alexion Pharmaceuticals Inc. layoffs

Smithfield closing confirmed, 250 people to be laid off

It has been confirmed, Smithfield manufacturing plant will be closing, with 250 people slated to lose their jobs in the process.

As if that's not enough, Alexion is also moving its headquarters, which comes with a set of problems of its own for people who work there. I am sure not everybody will be able to relocate easily.

by
| 1768 views | | 3 replies (last )
Post ID: @OP+PfxTcQl

3 replies (most recent on top)

Also, Fox covers how corporations are leaving CT due to high costs of running business here

http://www.foxbusiness.com/markets/2017/09/12/high-tax-connecticut-abandoned-by-another-corporation.html

by
|
Post ID: @1efb+PfxTcQl

Here is more from FP:

http://www.fiercepharma.com/pharma/corporate-shakeup-alexion-plans-hundreds-layoffs-and-hq-move

Alexion’s new management team is rolling out an overhaul that includes cutting 20% of its staff, or up to 625 people, and moving its headquarters to Boston's biopharma hub.

Previously based in New Haven, Connecticut, the biotech will close multiple manufacturing facilities and regional and country offices, according to the Tuesday announcement. Cuts will also hit the R&D organization, which already restructured once this year in moves that claimed about 200 jobs.

At the end of 2016, Alexion employed 3,121 people, meaning the cuts could affect about 625 staffers. The reductions will take place over the next 12 months, executives said on a Tuesday conference call.

All told, the company expects to save about $250 million in annual expenses by 2019. The restructuring will cost $340 to $440 million, CFO Paul Clancy told analysts.

by
|
Post ID: @lwn+PfxTcQl

620 altogether according to this article:

https://www.cnbc.com/2017/09/12/us-drugmaker-alexion-to-lay-off-20-percent-of-workforce-to-cut-spending.html

by
|
Post ID: @vaj+PfxTcQl

Post a reply

: