Lay offs at Biogen

Biogen Idec will slash about 650 jobs as part of cost cutting moves announced in a regulatory filing today.

The biotech company, which moved over the summer to a gleaming new headquarters in Weston, said it will reduce its work force of about 5,000 by 13 percent. Biogen also will close its facilities in Waltham, Wellesley and San Diego.

This couldn't have come at a worse time.