Layoffs
The life science industry is growing rapidly, and many companies have announced expansions and job creation. Still, others have been forced to cut costs and slash jobs. For that and more, continue reading.
Amarin and Vincerx Pharma intend to restructure their financial strategies and lessen operational costs by trimming their employee rosters.
Shares of Cleveland-based Athersys, Inc. are plunging Friday after the company announced a strategic restructuring that will result in the slashing of 70% of its workforce.
Atreca is reducing its staff count by over 25%, covering current employees and open roles, and revising its operating plan to reflect these cost-cutting measures.
Genocea’s board of directors voted to wind down ongoing operations and terminate its remaining staff, except for those necessary to see the company’s closing.
Applied Molecular Transport (AMT) provided a strategy update on Wednesday. Part of the update includes reducing its workforce by about 40% and funneling resources into its lead program.
As Scholar Rock prepares to move forward with its experimental assets for spinal muscular atrophy, it has terminated 25% of its staff and also announced the loss of its chief medical officer.
Agios Pharmaceuticals is cutting its staff numbers by 50 as part of plans to lay low on exploratory research efforts to focus on the success of late-stage initiatives.
Orion announced that it will be focusing on pain and oncology going forward. As a result, 32 working professionals within the company will be terminated, although six of those will be offered different positions.
ImmunoGen, which is developing Antibody-drug conjugates (ADCs) for the treatment of cancer, is on a hiring spree. The company is looking to hire for more than 200 positions by the end of 2022.
PRESS RELEASES
