Alnylam Pharmaceuticals to cut 52 jobs in March

Alnylam Pharmaceuticals will lay off 52 staffers on March 23, according to a notice filed with the Massachusetts Executive Office of Workforce and Labor Development. The Cambridge, Mass-based biotechnology company could not immediately be reached for comment, but the layoffs are likely related to the company’s restructuring program announced last month, which promised to trim the staff by 33 percent.

The layoffs include high-level positions including senior director of biotherapeutics, a senior director of business development, a senior director of pharma operations and a senior director of information technology. Nine senior scientists and 14 research associates positions will also be eliminated.

Alnylam said last month it expects the reduction in personnel costs, along with other external costs, to result in a savings of approximately $20 million in 2012 operating expenses. Alnylam estimates that it will incur one-time restructuring costs of approximately $4 million in connection with the restructuring, including employee severance, benefits, and related costs, which it expects to incur in the first quarter of 2012.

Source: Biz Journals