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Burlington and Watertown biotech firms announce major workforce cuts
Fractyl Health plans to reduce its staff by 45%, while EyePoint intends to lay off 105 workers. The companies are refocusing on experimental treatments for weight management and diabetes-related vision loss.
Two Massachusetts biotechnology companies are planning substantial workforce reductions as they shift their attention to experimental treatments, including one for weight management and another for diabetes-related vision loss.
Burlington-based Fractyl Health announced last week that it plans to cut 45% of its workforce. If the company’s staffing remains at the level it reported earlier this year, that reduction would eliminate about 45 jobs.
Watertown-based EyePoint plans to lay off 105 employees, according to a notice filed with the state. The planned cuts underscore the employment impact of strategic changes at biotech companies, where research priorities can shift alongside decisions about staffing.
The announcements came amid a challenging period for the state’s life sciences workforce. The reductions at Fractyl and EyePoint would affect workers in two Massachusetts communities, though the available details do not specify when the job losses will take effect.