Revvity Inc., a major biomanufacturing firm, is closing its Lawrence, Massachusetts facility, leading to 51 job cuts. This decision follows an earlier announcement to close its Boston South End site, bringing the total number of affected employees to 125. The company states these closures are part of an effort to consolidate operations at its Hopkinton campus.
Key Takeaways
- Revvity will close its Lawrence, MA facility, impacting 51 employees.
- This is the second Massachusetts site closure announced by the company in recent weeks.
- The Boston South End facility will also close, affecting 74 jobs.
- Total layoffs from both sites will reach 125 positions.
- Revvity aims to consolidate operations at its Hopkinton campus for efficiency.
Revvity Consolidates Operations in Massachusetts
Biomanufacturing company Revvity Inc. (NYSE: RVTY) is undergoing a significant operational restructuring in Massachusetts. The company confirmed the permanent closure of its facility located at 360 Merrimack Street in Lawrence. This action will result in 51 job losses.
According to a Worker Adjustment and Retraining Notification (WARN) filed with the state, these layoffs are scheduled to begin in December 2025. The majority of the workforce reductions are expected to occur by January 2026.
Fact Check
- Revvity is the 35th largest public company in Massachusetts.
- As of April 2025, the company employed 759 people in the state.
- Globally, Revvity has approximately 11,000 employees.
Second Site Closure Announced
The closure of the Lawrence facility is not an isolated event. It comes just weeks after Revvity announced the impending shutdown of its Boston South End facility. That site, located at 549 Albany Street, will see 74 jobs eliminated. The layoffs in Boston are set to take place between November 2025 and December 2026.
In total, 125 employees across both Massachusetts locations will be affected by these consolidation efforts. Some employees may receive offers to transfer to Revvity’s Hopkinton campus. However, a spokesperson indicated that layoffs are still expected.
Strategic Shift to Streamline Footprint
A company spokesperson explained the reasoning behind these changes to the Boston Business Journal (BBJ). The closures are part of a broader strategy to "consolidate operations from our Lawrence and Boston sites into our Hopkinton campus to streamline our footprint."
This move highlights a trend in the biomanufacturing and biotech sectors. Companies are increasingly focusing on operational efficiency. This is especially true amid challenging capital markets and general economic uncertainty.
"Most employees at the affected sites are being offered relocation opportunities," a Revvity spokesperson told BBJ, emphasizing the company's "commitment to supporting staff through the transition while maintaining a strong presence in Massachusetts."
Company Background
Revvity Inc. was formed as a spin-out from PerkinElmer Inc. Its core operations are vital to modern medicine. These include biomarker identification, diagnostics, imaging, informatics, and predictive technologies. These areas are crucial for advancing personalized medicine and biotech innovation.
Financial Pressures and Market Performance
Despite its strategic focus on critical biotech areas, Revvity has faced financial challenges. The company's stock has seen a decline of more than 26% since the beginning of 2025. On Friday, the company closed with a market capitalization of $10.64 billion, according to BBJ data.
The decision to consolidate operations reflects a need to optimize resources. This is a common strategy for companies navigating financial pressures and aiming for long-term stability.
Impact on Massachusetts Biotech Landscape
Biomanufacturing is a key industry in Massachusetts. Layoffs in this sector can have wider effects. These impacts can be felt across local economies and supply chains. While Revvity states its commitment to Massachusetts, the closures represent a notable change in the state’s biotech employment figures.
The majority of job transitions are expected to occur in the first quarter of 2026. However, some affected employees may experience changes as early as November 2025.
Revvity has not yet made any announcements regarding further restructuring plans beyond these current site consolidations. The company's focus remains on integrating operations at its Hopkinton campus.
Looking Ahead
The consolidation strategy aims to create a more efficient operational model for Revvity. This could help the company improve its financial performance and strengthen its position in the competitive life sciences market. The shift underscores the ongoing need for companies in high-tech sectors to adapt to economic conditions and optimize their physical and operational footprints.
The biopharmaceutical industry continues to evolve. Companies like Revvity must balance innovation with efficient business practices. This ensures they can continue to contribute to advancements in health and medicine.
