For the second time in less than three months, Thermo Fisher Scientific is announcing layoffs.
The Waltham-based life sciences firm, the most valuable publicly traded company in Massachusetts, informed the state on Friday that it was cutting 300 jobs across its sites in Cambridge and Plainville. The layoffs will be effective March 30, according to Thermo Fisher’s notice to the state.
In a statement, a company spokesperson said the headcount reduction was a response to “recent shifts in customer timelines and utilization needs.”
“Decisions that impact our colleagues and their families are never taken lightly. All impacted colleagues will receive job transition support to aid them in finding new opportunities,” the spokesperson added.
The announcement comes on the heels of a previous round of layoffs in November, when the company said it was cutting 160 jobs at its locations in Cambridge, Plainville, and Lexington.
At the time, a Thermo Fisher spokesperson said the company had “started the process of ceasing operations” at its Lexington facility, which opened in 2019 as the firm doubled down on its gene therapy focus. The spokesperson said the company was “transferring all current programs” to its Plainville plant, which opened in 2022. A spokesperson confirmed to the Globe on Monday that the Lexington site had closed.
Also last week, Thermo Fisher reported its financial results for 2024. Revenues were $42.88 billion for the full year, about on par with the year prior. Its fourth-quarter results were sunnier, clocking in at $11.4 billion in revenue, about five percent higher than the same period in 2023.
“We are in a great position to deliver excellent performance in 2025 as we continue to create value for all of our stakeholders and build an even brighter future for our company,” said Marc N. Casper, president and CEO of Thermo Fisher, in a statement included in the financial results.
A spokesperson said after the November layoffs that the company had more than 4,000 employees in Massachusetts. Thermo Fisher has more than 120,000 employees worldwide.
As of midday Monday, Thermo Fisher’s stock was trading down slightly from its close on Friday. Its market capitalization is more than $220 billion.
Dana Gerber can be reached at dana.gerber@globe.com. Follow her @danagerber6.