04:59 PM EDT, 08/02/2024 (MT Newswires) -- (Updates with Takeda's response in the fourth and fifth paragraphs.)

Takeda Pharmaceutical ( TAK ) plans to cut about 1,000 jobs across the US, including the closure of its research and development hub in San Diego by the end of September, Nikkei Asia reported, citing paperwork filed with California under the Worker Adjustment and Retraining Notification Act.

The Japanese company will cut 641 jobs in Cambridge and Lexington, Massachusetts, with another 220 layoffs planned in the state, Nikkei said, citing the state's WARN notice.

The 300 workers at the San Diego facility will either be laid off or relocated, Nikkei reported.

The referred changes in the US pertain to "previously disclosed WARN (U.S. Worker Adjustment and Retianing Notification act) notifications that we provided in recent months in alignment with our values and in compliance with local requirements to support our employees," a company representative told MT Newswires. "These changes will take place over time according to the unique needs of the teams involved to best position the organization for growth."

The September timeframe relates to the closing of San Deigo site, that the company disclosed in May.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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