Biogen Inc. made layoffs to its work force on Wednesday, the company said in a statement to Dow Jones Newswires.
Biogen is struggling with the disappointing launch of its Alzheimer's disease drug Aduhelm, and said in December that it would seek to cut costs by $500 million annually, but not all of the savings will come from layoffs, the company said Thursday.
"The cost-savings initiative is not based on headcount reductions alone, and we have prioritized not filling some open positions in addition to other measures," Biogen said.
Biogen's job cuts on Wednesday totaled more than 100, a person familiar with the matter tells Dow Jones. Biogen had 9,610 employees globally at the end of 2021, about 59% of which were in the U.S., according to Biogen SEC filings.
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