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Biogen Idec seeks costs savings in HQ relocation

This article was originally published in Scrip

Executive Summary

Biogen Idec is to relocate its corporate headquarters to reduce costs. The firm said that it would move its general and administration operations to a 350,000ft2 facility in the cheaper suburbs of Massachusetts. The firm's head office will remain in Massachusetts, but will move from Cambridge to Weston. "The Weston site gives us the flexibility to allow [Biogen Idec] the future growth in an area where commercial real estate is less expensive," the company told Scrip. The move, which will affect up to 600 employees, follows a regular review of Biogen Idec's operations and will be completed during the second half of 2010. No employees will be laid off as part of the relocation and its site in Cambridge will remain operational. Biogen Idec said that the vacated space at Cambridge would be used to house other parts of the company's functions.

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