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The Boston Globe

Business

Troubled Ariad cuts 40 percent of US workforce

Ariad Pharmaceuticals Inc., reeling from a series of setbacks that last week forced the Cambridge company to temporarily stop selling its leukemia drug, said Thursday that it will eliminate 160 jobs.

Ariad’s chief executive, Harvey J. Berger, called the move a “painful and difficult action in which we are losing highly talented and dedicated employees.” But Berger said trimming the payroll was “a necessary step in strengthening the company financially.”

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