Thermo Fisher Scientific continues to cut jobs at its Grand Island operations, as the life sciences company makes a broader push to reduce expenses by $450 million.
“We’re appropriately reducing headcount where that makes sense across the business,” said Stephen Williamson, the life sciences company’s chief financial officer, in a conference call this week.
Thermo Fisher would not say how many jobs it has cut from its Grand Island operations.
A year ago, Thermo Fisher hailed completion of a $76 million expansion of its Staley Road manufacturing plant. The expansion was expected to add 100 jobs to the existing workforce of 1,600.
The Grand Island facility makes ingredients used by the biologics and vaccine industries. Those customers’ products help treat diseases and illnesses including cancer, asthma, rheumatoid arthritis and multiple sclerosis. Thermo Fisher also has a location on Whitehaven Road, at the former headquarters of CannonDesign.
But Thermo Fisher has been cutting jobs from its Grand Island workforce over the past several months. The company would not provide a current local employment figure.
“There are times when we must adjust staffing levels to remain in line with macroeconomic conditions and current volume demands,” the company said in a statement. “In alignment with this ongoing effort, we have made the decision to adjust staffing levels at our Grand Island, N.Y., location.”
Massachusetts-based Thermo Fisher this week reported second-quarter profits of $1.36 billion, down 18.5% from a year earlier. Revenue dropped 3% on a year-over-year basis.
“The macroeconomic environment became more challenging in the second quarter,” said Marc Casper, Thermo Fisher’s chairman, president and CEO. “Economic activity in China slowed, and across the economy more broadly, businesses became more cautious in their spend.”
Thermo Fisher has lowered its guidance for its full-year revenue to a range of $43.4…
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