Boston news

• State Street lays off 250 IT workers in latest job cuts

  13-09-2019 23:04 via feeds.bizjournals.com
  State Street Corp. laid off approximately 250 information technology employees on Friday, part of the company’s drive this year to cut 2,300 jobs in higher-cost locations in the U.S. and elsewhere.The Boston-based financial services giant (NYSE: STT) has been slashing expenses in the face of declining revenue this year. It initially announced in January that it planned to cut 1,500 jobs in 2019, including senior managers, then revised that target to 2,300 in July.Some of the job cuts occur
  
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• Coda: BSO concertmaster to retire after 35 years

  13-09-2019 20:46 via feeds.bizjournals.com
  The Boston Symphony Orchestra said this week that its concertmaster, the highest-ranking leader after the conductor, is retiring.Malcolm Lowe, who was first appointed to the position by Seiji Ozawa in 1984, is retiring just before the start of the 2019-2020 season on Sept. 19. He's the second longest-serving concertmaster in the Boston Symphony Orchestra’s 138-year history.His job included leading the orchestra in the pre-concert tuning and playing violin solos. He led the string section a
  
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• FAQs for businesses on the Massachusetts Paid Family Leave Law

  13-09-2019 20:15 via feeds.bizjournals.com
  On June 20, 2018, Governor Charlie Baker signed the Massachusetts Paid Family Leave (PFMLA) into law. Since, the newly-created Massachusetts Department of Family and Medical Leave published two sets of draft regulations on the PFMLA. In addition, recently Baker signed a law delaying the implementation of the PFMLA by three months. As a result of the delay, employers must begin complying with the law on Sept. 30, 2019.Before then, it is important for human resources teams, employment attorneys,&h
  
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• The week in bankruptcies: Three local companies file for protection

  13-09-2019 19:41 via feeds.bizjournals.com
  The Boston Business Journal is starting a new weekly roundup of bankruptcy filings in the region based on public records collected by parent company American City Business Journals.Boston-area bankruptcy courts recorded three filings in the past week, with total debts above $1 million. Year to date, through Sept. 6, the court recorded 64 bankruptcy filings under Chapter 7, Chapter 9 and Chapter 11 — a 98 percent increase from the same span the prior year.The Mac Express LLC filed for
  
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• Transportation chief's claims on HOV lane abuse were anecdotal, aide says

  13-09-2019 19:37 via feeds.bizjournals.com
  When Transportation Secretary Stephanie Pollack said this week that highway carpools lanes are mostly filled with scofflaws she wasn't basing it on any hard evidence, according to an aide.
  
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• Amid Epstein scandal, MIT settles suit over Fidelity 401(k) plan

  13-09-2019 19:15 via feeds.bizjournals.com
  Days before a trial was set to start, MIT reached a tentative settlement agreement with current and former employees who claimed the university wasted millions of dollars by choosing Fidelity Investments to administer its 401(k) plan for workers.In a brief filing with a federal judge on Thursday, MIT and the four workers who brought the lawsuit divulged no details about the agreement. The two sides said they need another 45 days to finalize the settlement documents.The case had been scheduled&he
  
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• Mass. high court upholds city's taking of Yawkey Way

  13-09-2019 17:38 via feeds.bizjournals.com
  The Massachusetts Supreme Judicial Court ruled Friday that a local attorney cannot challenge the city of Boston's planning agency's decision to give the Red Sox indefinite use of Yawkey Way, now known as Jersey Street.Joseph Marchese, a lawyer and business owner, had claimed that in 2013, the Boston Redevelopment Authority — now renamed the Boston Planning and Development Agency — acted outside of its authority when it made a permanent taking of the Yawkey Way easement. He had sought
  
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• Syros Pharmaceuticals moving HQ out of East Cambridge

  13-09-2019 16:24 via feeds.bizjournals.com
  The new facility will give the Cambridge-based biotech capacity to double its 80-person employee base.
  
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• Biogen, Eisai halt work on second of 3 clinical-stage Alzheimer's drugs

  13-09-2019 16:05 via feeds.bizjournals.com
  Cambridge drug giant Biogen’s mission to find what has been called the pharmaceutical industry’s “holy grail” — a treatment for the memory deteriorating condition Alzheimer’s disease — has hit another dead-end.Biogen (Nasdaq: BIIB) and its development partner Eisai Inc. announced Friday they have halted work on one of their remaining treatments, elenbecestat, due to what they said is a poor risk-benefit outlook.Elenbecestat was one of three drugs Biogen
  
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• After outcry, cannabis regulators seek to prioritize small business

  13-09-2019 13:03 via feeds.bizjournals.com
  The Massachusetts Cannabis Control Commission on Thursday agreed to a host of regulatory changes aimed at aiding small businesses. The changes were made as part of the commission’s ongoing process to update the regulations overseeing the recreational and medical marijuana market. The final version of the regulations will likely be voted on in their entirety within two weeks. Many of the changes stemmed from public hearings commissioners held on the regulations, filled with teary-
  
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