- Corporate IT and digital teams - Cuts reported across Corp IT, including ETO and AAD, with programs like Gene.AI shut down and entire US teams reduced.
- CIS and BPG units - CIS reportedly cut 36 roles, impacting whole US teams, while BPG saw scattered layoffs across groups.
- CTD Quotes team - The Quotes team in CTD was outsourced to Costa Rica, resulting in 14 layoffs.
- CSD and Europe - Layoffs extended into CSD and European teams, which some employees described as unexpected.
- Manufacturing site in Massachusetts - Thermo Fisher Scientific is closing its Franklin, MA plant, laying off 80 employees while relocating about 120 to other state facilities.
2 replies (most recent on top)
From yesterday's HR email. 401K match paid every 6 months instead of every pay period. Lay people off in Nov/May = save 5 months of 401K payments. Profit goes from 23.2% to 23.21%. Shareholders happy. Working for Thermo gets worse and worse and worse
What a way to start the year. There will be more all year long. TF is adept at doing small rounds constantly to avoid WARN and publicity. (Look at other posts on this site.)
It's all about the EPS, ya know. Eliminating jobs is a quick way to boost it. Plus, they're always acquiring other companies, which makes for a lot of slash and burn to see ROI faster.
The whole gene.ai thing was a complete waste. As is typical with these big companies, they don't know what or how to do anything with AI - other than be terrible with it.