Biopharma Layoff Tracker 2024: uniQure, Vir, Arbutus, and More Cut Staff

uniQure Layoffs:

uniQure has announced the elimination of 300 roles as part of its restructuring efforts.

Vir Layoffs:

Vir plans to cut 25% of its staff, contributing to the ongoing trend of layoffs in the biotech sector.

Arbutus Layoffs:

Arbutus Biopharma will lay off 40% of its staff to focus resources on its Phase II treatment for chronic hepatitis B infection.

Genentech Layoffs:

Genentech will reduce its workforce by about 3% across multiple departments, affecting approximately 405 employees.

Sanofi Layoffs:

Sanofi will eliminate 100 jobs from a San Francisco site as part of a planned divestiture of Amunix Pharmaceuticals.
Sanofi is also cutting an unspecified number of jobs as part of a “full pipeline reprioritization” effort, shifting its R&D focus toward immunology.

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..

Boehringer Ingelheim Layoffs:

Boehringer Ingelheim is cutting an undisclosed number of customer-facing salesforce roles due to the slow uptake of its Humira biosimilar, Cyltezo.

Foundation Medicine Layoffs:

Foundation Medicine, a Roche subsidiary, plans to cut about 135 members of staff as part of a decision to adopt a “leaner, more streamlined organizational structure”.

Enzyvant Therapeutics Layoffs:

Enzyvant Therapeutics plans to lay off 20 employees in North Carolina, including some executive positions, due to the integration of Enzyvant and its affiliates into one new company.

Emerald Cloud Lab Layoffs:

Emerald Cloud Lab plans to lay off 30 employees from its headquarters in South San Francisco, effective April 30, possibly as part of its relocation to a new facility in Austin, TX.

Nektar Therapeutics Layoffs:

Nektar Therapeutics will implement a restructuring initiative that includes cutting its workforce in San Francisco by about 60%, focusing on its immunology portfolio.

Talaris Therapeutics Layoffs:

Talaris Therapeutics plans to lay off about 80 employees, including much of its C-suite, following its February decision to cut about one-third of its staff and axe two clinical trials.

Aeglea Biotherapeutics Layoffs:

Aeglea Biotherapeutics announced plans to lay off all but about 10 members of its staff as part of a restructuring initiative following mixed interim data from an ongoing Phase I/II study.

Oncocyte Corporation Layoffs:

Oncocyte Corporation plans to cut its workforce by about 20% to extend its cash flow into 2024, citing cost reduction and efficiency optimization.

GentiBio Layoffs:

GentiBio, Inc. has laid off an undisclosed number of employees, citing a challenging biotech macroenvironment.

Bristol Myers Squibb Layoffs:

Bristol Myers Squibb is slashing its workforce by 2,200 employees by the end of 2024 as part of its “strategic productivity initiative”.

Perrigo Layoffs:

Perrigo is cutting costs and restructuring, resulting in the loss of nearly 550 employees, or about 6% of its staff.

Industry Outlook:

Despite a surge in the financial markets, biopharma layoffs have continued, with over 14,000 positions cut in 2024 so far.
Experts hope for a better second half of the year, with the IPO market picking up and companies potentially rebalancing their hiring strategies.