300+ Workers At 2 Morris Co. Companies To Be Laid Off In The New Year

MORRIS COUNTY, NJ — Layoffs are ringing in the new year, with two corporations with locations in Morris County planning to lay off more than 300 workers by the end of March.

Ferring Pharmaceuticals, a leader in reproductive medicine and maternal health, uro-oncology, and specialty areas within orthopedics and gastroenterology, is preparing a round of layoffs in Parsippany, according to documents filed with the state.

In a filing with the New Jersey Division of Workforce and Development, the company announced that 79 employees would be terminated early into the new year.

Those layoffs will take effect on March 5, according to a WARN Notice shared by the New Jersey Department of Labor.

"Ferring Pharmaceuticals (US) has optimized resources to align with its revised business strategy. The roles that were eliminated include employees located around the country reporting to our Parsippany, NJ, office. We anticipate that a number of these employees will be redeployed, which will result in a limited number of actual job reductions," a Ferring Pharmaceuticals spokesperson told Patch.

Ferring's 25-acre facility at 100 Interpace Pkwy, in Parsippany, currently employs 500 workers across manufacturing, commercial, clinical development, management, and administration functions. "It’s where our people share ideas to ultimately develop, manufacture and market new therapies to help people build families, stay healthy and fight disease," the company said.

Barclays Service Corporation, a subsidiary of global financial giant Barclays, filed a WARN notice saying that 244 positions in their Whippany office will be affected.

The notice, filed with the New Jersey Department of Labor, states that all 244 employees will be impacted, with layoffs occurring in two phases: Feb. 13, 2024, and March 15, 2024.

This move is part of Barclays’ broader strategy to cut costs globally, aiming to save up to $1.25 billion and potentially eliminate around 2,000 jobs, mainly in back-office operations.

"As we said in October at Q3 results, we are taking a number of actions to simplify and reshape the business, improve service, and deliver higher returns. This includes changes to our headcount as management layers are reduced and the group improves its technology and automation capabilities. We are committed to supporting impacted colleagues through these changes," a company spokesperson told Patch.

The Whippany campus, located at 400 Jefferson Park, which opened in 2018, houses the staff of Barclays' Chief Operating Office as well as functional teams from across the Americas.

The 63-acre campus features cutting-edge technology and cutting-edge working environments, promoting collaboration and creativity across teams and boosting the firm's capacity to deliver for customers and clients worldwide.

Barclays first purchased the entire facility in May 2017.

Worker Adjustment and Retraining Notification (WARN) notices normally cover mass layoffs or facility closings as part of the Worker Adjustment and Retraining Notification Act of 1989.