Biopharma Layoff Tracker 2024: Industry-Wide Job Cuts Continue

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1. Novartis Layoffs: Novartis plans to eliminate about 680 jobs in product development over the next two to three years, with 440 positions in Switzerland and 240 in the U.S.
2. Exscientia Layoffs: Exscientia is cutting 20-25% of its workforce, extending its cash runway into 2027.
3. BioMarin Layoffs: BioMarin Pharmaceutical is laying off approximately 170 employees globally.
4. Bolt Biotherapeutics Layoffs: Bolt Biotherapeutics is discontinuing development of its lead oncology asset and laying off about 50% of its workforce.
5. Genentech Layoffs: Genentech will reduce its workforce by about 3% across multiple departments.
6. Sanofi Layoffs: Sanofi will eliminate 100 jobs on June 3 from a San Francisco site as part of a planned divestiture of Amunix Pharmaceuticals.
7. Amylyx Pharmaceuticals Layoffs: Amylyx has pulled its ALS therapy off the market and is laying off about 70% of staff.
8. Industry-Wide Impact: At least 7,616 workers were impacted by second-quarter layoffs, a significant increase from the 2,398 known in the first quarter.

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