The next 15 months will be very tough for the Cambridge biotechnology Company, as it plans elimination of work force for its money saving strategy.

Genzyme Corp. is likely to bring about as much as 1,000 job cuts in the coming months, which entail 10% of its total manpower, says Genzyme’s Chief Executive, Henri A. Termeer. However, he made sure not to mention the Company’s 4,500 jobs that are likely to take place in Massachusetts.

Termeer said in the memo, “For the first time in our company’s history, we are faced with the need to make these painful decisions’’. The memo is believed to be obtained by the Globe.

Having more than $18 billion value in the stock market, Genzyme has attained the position of the largest biotechnology firm in the state.

By selling the expensive drugs for the treatment of rare genetic disorders, the Company has also managed to acquire a lucrative niche in the industry of drugs.

After the sales of $4.5 billion, the profit of the Company was $422.3 million last year. However, such a huge profit was attained by the firm, even in bad conditions such as supply shortages and production problems.

But, its performance in the year 2010 has been worse, as in the first three months of this year the Company has lost $115 million.