Thermo Fisher announces further job cuts as part of restructuring efforts

USA – Thermo Fisher Scientific is set to lay off 300 employees at two of its Massachusetts facilities as the company restructures its viral vector production network.

The layoffs, which will take effect on March 30, were revealed in a Massachusetts Worker Adjustment and Retraining Notification (WARN) last week. These cuts will affect workers at the company’s Cambridge and Plainville sites.

This announcement follows a previous round of job reductions at these same sites, as well as the closure of a Lexington facility in Massachusetts, which resulted in 160 job losses. Those cuts are set to take place gradually from January 2025 to November 2026.

A company spokesperson explained, “In light of recent shifts in customer timelines and utilization needs, we are making strategic business adjustments.”

The spokesperson also added that Thermo Fisher “continuously evaluates opportunities to enhance our operational efficiency and better serve our customers.”

Despite the layoffs, Thermo Fisher emphasized its ongoing commitment to supporting medical advancements through its viral vector services network, including its Plainville site.

This 380,000-square-foot facility, which opened in 2022 with advanced bioproduction capabilities, was initially expected to create around 300 jobs to support the development and manufacturing of cell and gene therapies.

These job cuts come even though Thermo Fisher reported a revenue increase of 5% in the fourth quarter of 2024, reaching US $11.4 billion. Full-year revenues for 2024 were flat at US $42.9 billion.

However, the company is optimistic about 2025, with projected revenue ranging from US $43.5 billion to US $44 billion, expecting 3% to 4% organic growth, according to CEO Marc Casper.

In 2023, Thermo Fisher also closed its Princeton, New Jersey site, resulting in the layoff of 113 employees.