One of Massachusetts Largest Companies Lays Off 600 Employees

There is a lot to love about living in Massachusetts. From its iconic Cape Cod beaches to the bustling Boston metro area to the peaceful hills of the Berkshires, there is something for everyone in Massachusetts.

Whether you were born and raised in Massachusetts, or are a transplant to the best state in New England, you know all it has to offer.

Massachusetts boasts a strong economy, affordable living, excellent public schools, and an overall high quality of life. The state has been highlighted as one of the best states to live in the U.S. several times, but publications like U.S. News and World Reports, Niche, and CBS News.

A strong economy depends on many factors, but one of the most important factors is a solid job market and one Massachusetts city was named one of the strongest local job markets in the nation.

According to a new study released by WalletHub that looked at the best cities to find a job, Boston, Massachusetts was named one of the strongest local job markets in the country, coming in 10th on the list.

On top of that, Forbes recently published a list of America’s Best Large Employers for 2024 and 18 Massachusetts-based companies made the list.

One of those employers is Takeda, Massachusetts' largest biotech company. With 14 branches throughout the state, the company employs over 6,000 Massachusetts residents, however, about 10% of their employees are on the chopping block.

Massachusetts Largest Biotech Company to Lay Off 600 Employees

According to multiple sources, the company filed a Worker Adjustment and Retraining Notice with the Commonwealth last week. In total, 641 employees' jobs will be cut, 495 of those positions are based in Cambridge, and 146 are based in Lexington. Layoffs are reported to start in July.