Bourbonnais, IL – Workers at CSL Behring’s Bourbonnais Township plant could soon face uncertainty after the Australian biotech giant announced plans to slash thousands of jobs worldwide.
According to published reports, CSL Behring said Tuesday it would spin off its vaccine division and cut about 3,000 positions as part of a major restructuring effort. The company, Australia’s fourth-largest by market value, cited “unprecedented volatility” in its operating environment as a key factor driving the move.
CSL, which earns most of its revenue producing blood plasma treatments for rare diseases, said it closed 22 U.S. collection centers this month and plans to consolidate research and development. The company indicated as many as 15% of roles outside its U.S. plasma unit could be eliminated, raising questions about the scope of potential reductions in Illinois.
CEO Paul McKenzie acknowledged the restructuring in a statement, calling it necessary to “reshape and simplify the business” and allow CSL to refocus on core strengths. He also addressed concerns about U.S. trade policy, noting that while President Donald Trump has threatened significant tariffs on pharmaceutical imports, CSL sources most of its active ingredients within the United States. McKenzie said he did not expect tariffs to directly impact the company’s plasma business but added that supply chains for other divisions would be reviewed.
Shares of CSL plunged 15% in overseas trading Tuesday, marking their sharpest single-day drop in years. Analysts expressed concern that while job cuts may lower costs, they could also weigh on future earnings growth.
The company expects to complete the vaccine unit spinoff in early 2026 and forecasts up to $550 million in annual savings within three years. However, it also warned of a one-time pre-tax charge approaching $770 million this year as part of the transition.
Workers at the Bourbonnais Township plant are represented by the International Chemical Workers Union Local 498C, which staged a strike in 2023 over disputes involving subcontracting. CSL has also been in the spotlight for Hemgenix, its one-time gene therapy for hemophilia B that won FDA approval in 2022 at a cost of $3.5 million per treatment, making it the world’s most expensive drug.
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