Layoffs
Georgia-based MiMedx has been dealing with continued fallout from questions over its earnings and sales practices.
Bayer will cut 12,000 jobs as it prepares an overhaul of its business that includes exiting its animal health business as it deals with the fallout from its $63 billion acquisition of Monsanto. Additionally, the company said it will sell its 60 percent stake in Germany-based site services provider Currenta.
Abeona did not specify the type of misconduct that Carsten Thiel engaged in, but it was serious enough to warrant termination.
Boston Scientific’s restructuring will take place over a three-year period. The company expects it overall employee base to remain relatively unchanged when it is complete, although some losses are expected.
Theranos fit in with the opaque culture of Silicon Valley, which allowed it to thrive and amass a fortune without delivering anything, book argues.
In the wake of a Complete Response Letter issued by the FDA, Trevana, Inc. is slashing one-third of its workforce. On Wednesday, Merrimack Pharmaceuticals also announced it was terminating 60 percent of its staff as the company narrows its research and development focus.
Shares of South San Francisco-based Achaogen, Inc. fell more than 12 percent in Monday trading after the company signaled that it began a review of strategic alternatives that could include a sale of the company.
According to Jay Bradner, president of the Novartis Institutes for Biomedical Research, the company is cutting its drug programs from 430 to 340. One of the big areas the company is abandoning is infectious diseases. The decision is a result of a strategic review by Vasant (Vas) Narasimhan, the company’s chief executive officer.
Citing structural simplification, Pfizer announced it plans to cut its global staffing by about 2 percent. It expects to do so primarily through voluntary layoffs and early retirement through the end of this year and early in 2019.
German company Bayer AG is laying off 227 staffers at its manufacturing plant in Berkeley, California. Most of the cuts took place on October 3.
PRESS RELEASES
