Layoffs
Cellectar Biosciences is closing its manufacturing operations and contracting them out.
As a result, the company will cut 300 jobs, primarily in Massachusetts and Connecticut.
Not only has the company made changes to its R&D division, it is strengthening its sales division as well.
About 200 of the job cuts will be in Massachusetts, the remaining in Connecticut.
The company will undergo a reorganization that includes the termination of a number of sales representatives.
The agreement covers employees who agree to leave voluntarily.
Allergan will cut about 5 percent of its workforce, as the company looks to cut costs due to increased pipeline competition and loss of exclusivity on some products.
OvaScience provided a corporate update that includes initial data from a Phase I trial and news of extensive layoffs.
The company’s sales department will take the brunt of the layoffs, losing 235 jobs.
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