Sarepta Therapeutics announced it has laid off more than one-third of its workforce, a drastic cost-cutting move following the deaths of two teenagers administered its gene therapy for Duchenne muscular dystrophy.

A filing with the state details the Columbus job cuts for a biotech cutting more than one-third of its workforce.

Sarepta Therapeutics is laying off 500 staffers, or 36% of its workforce, as part of a strategic restructuring aiming to save $400 million annually. | Sarepta Therapeutics has laid off 500 staffers, or 36% of its workforce,

Sarepta Therapeutics announced a layoff of 493 employees, including 80 in Franklin County, amid restructuring efforts and criticism from the FDA.

British biopharmaceutical company GlaxoSmithKline will lay off 150 employees in its Cambridge operations by the end of March 2026, the company said in a notice to the state.

The favorable market reaction indicates investor relief at management’s swift measures to rectify the company's worsening financial situation.

Massachusetts-based Sarepta Therapeutics, facing scrutiny from regulators, is reducing its global workforce by 36% in an effort to cut annual operating costs by hundreds of millions of dollars.

The drastic cost-cutting move follows the deaths of two teenagers that forced the company to restrict usage of its gene therapy for Duchenne muscular dystrophy.