Takeda Cuts Over 640 Jobs as Part of $900M Restructuring

What’s happening at Takeda?

Takeda is implementing significant layoffs as part of its $900 million restructuring plan. The company will cut 495 employees at its U.S. headquarters in Cambridge, Massachusetts, and 146 employees at its Lexington campus, as detailed in a Worker Adjustment and Retraining Notification (WARN) Act notice.

Official statements and context

• Layoffs will begin in early July and conclude by March 2025, aligning with the end of Takeda’s fiscal year, which targets a total profit of 225 billion Japanese yen ($1.4 billion).
• A Takeda spokesperson stated the company is committed to supporting affected employees by offering assistance in finding new roles within the company and providing transition resources and consultation services.
• The restructuring aims to improve the company’s core operating profit margin to the low-to-mid 30% range by focusing on organizational agility, procurement savings, and tech efficiency.
• The drive to cut costs and streamline operations is seen as a response to declining profits, especially from the falling revenue of its ADHD medication, Vyvanse.

Impact on Canadian staff

It remains unclear if Canadian employees have been let go by Takeda in this latest round of layoffs.

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