Layoffs
Finch announced that it is slashing its headcount by around 37% and suspending its planned Phase I study in autism a week after Takeda withdrew from its multi-year collaboration.
In an SEC filing, Zymergen revealed it was cutting 80 more jobs and parting with Zach Serber, its co-founder and chief scientific officer.
Layoffs at Atara have begun weeks after the Bay Area company announced plans to terminate 20% of its staff under a new corporate strategy focused on the innovation within the company’s pipeline.
Of the 1,400 jobs Novartis plans to eliminate in Switzerland, about half will include leadership and management positions, the company reported Monday.
Biogen expects to lay off a potential 1,000 staffers in an effort to cut about $1 billion in costs, according to The Boston Globe, while 10x Genomics and Talis Biomedical also cut staff.
The layoffs trend in the life sciences industry is continuing into the final months of 2022. See inside for details on which companies are reducing staff to increase cash flow.
Assembly Biosciences and X4 Pharmaceuticals have announced significant layoffs and reprioritization endeavors to let go of underperforming initiatives.
The Bay State, home to the busy bio-hub Genetown, is experiencing some growing pains. Companies like Biogen and Eisai (H3 Biomedicine) are reducing their headcount.
Adverum Biotechnologies is cutting 78 jobs after announcing it had successfully amended its Investigational New Drug application for ADVM-022.to treat wet age-related macular degeneration.
Heron Therapeutics and Avadel Pharmaceuticals have now joined the ranks of life sciences companies cutting costs including laying off a significant number of employees.
PRESS RELEASES
