Less than one year after being awarded a nearly $2 million tax incentive for its commitment to create and retain 125 jobs in Lexington, Takeda Pharmaceuticals has told the state it now plans to lay off 146 of its Lexington workers and another 495 employees based in Cambridge.
The company, which has a headquarters of United States operations in Cambridge, revealed the plan to lay off 641 Massachusetts employees between early July 2024 and March 2025 in a filing made last week pursuant to the federalthat Takeda was one of 43 life sciences companies to be awarded a share of $24.4 million in tax incentives that were expected to create a cumulative 1,584 new life sciences industry jobs in Massachusetts. Takeda's $1.
Healey's office said at the time that companies that get awards through the MLSC's Tax Incentive Program"are required to maintain job commitments over a five-year period." A spokesperson for the MLSC did not immediately respond to questions Wednesday about whether Takeda's layoff plans affect its 2023 tax incentive award. Takeda also did not immediately respond to inquiries about its planned layoffs and its acceptance of the $1.875 million tax incentive.
The news that the major life sciences employer is trimming its workforce in Massachusetts comes ahead of next week's BIO convention in San Diego and as Healey's economic development bill, which calls for reauthorizing the state's life sciences initiative at $1 billion for another decade, remains pending before the Legislature.
Massachusetts is home to 18 of the 20 largest life sciences companies in the world, Healey has said. And since the state's taxpayer-backed life sciences push began with a $1 billion investment under former Gov. Deval Patrick in 2008, the biopharma industry workforce has grown by over 110% and now boasts more than 117,000 employees, according to the Massachusetts Biotechnology Council.
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