As M&A buzz heats up, Parex­el plans 1,200 lay­offs; Grü­nen­thal is hir­ing for its new Boston/Cam­bridge cen­ter

→ As ru­mors of a po­ten­tial buy­out spread fol­low­ing a move to cut pro­ject­ed rev­enue, the big CRO Parex­el is lay­ing the ground­work for a ma­jor cut in staff. In a fil­ing with the SEC on May 4, the Waltham, MA-based com­pa­ny out­lined plans to slash up to 1,200 jobs at the glob­al clin­i­cal tri­al op­er­a­tion — far more than the 400 job cuts that had been in the works. The Boston Busi­ness Jour­nal re­port­ed that sto­ry first. The Wall Street Jour­nal, mean­while, re­port­ed ear­li­er in the week that Parex­el has be­gun work­ing with in­vest­ment bankers to beat the bush­es for a po­ten­tial buy­er, con­tin­u­ing a decade-long con­sol­i­da­tion in the CRO busi­ness.

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