Labor & Economic News Blog
Friday, September 09, 2005
Beseiged Biogen in Boston to lay off 650, sell assetsBy Jeffrey Krasner, Globe Staff
After six months during which Biogen Idec Inc.'s key drug was withdrawn from the market, its stock price plummeted, and federal regulators investigated allegations of insider trading, the company yesterday said it would lay off 650 of its 4,000 employees and sell assets to cut costs.
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