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The Boston Globe


Around the Region

AVEO to cut 45 jobs, 17% of its staff

AVEO Oncology, a Cambridge company looking to develop a treatment for advanced kidney cancer, has embarked on a “strategic restructuring” that will cut 45 positions, or 17 percent of the workforce, as well as eliminate 30 open positions.

The reduction, unveiled Tuesday, is part of a program that is expected to save 100 million over the next three years, with $37 million in savings projected in 2013. After the restructuring, AVEO will have about 225 employees.

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