Biopharma Layoff Tracker 2024: Ongoing Industry Downsizing

Industry Trends:
The biopharma industry continues to experience significant layoffs in 2024, with major companies downsizing and restructuring their workforces to stay afloat.

Recent Layoffs:

BioMarin:
Laid off about 225 employees globally as part of its reorganization and updated strategy for hemophilia gene therapy Roctavian.

Repare Therapeutics:
Reduced its workforce by 25% to focus on advancing its clinical-stage oncology programs.

Sana Biotechnology:
Laid off 29% of its workforce (approximately 120 people) to narrow its R&D focus to its ex vivo cell therapy platform.

Biogen:
Laid off 113 employees from Reata Pharmaceuticals’ Plano, Texas site following its acquisition of Reata.

Major Companies Affected:

Novartis:
Plans to eliminate approximately 100 more jobs in San Diego as part of a broader restructuring effort.

Indivior:
Cut approximately 130 sales staff and ceased sales and marketing of its schizophrenia drug Perseris.

CureVac:
Reduced its workforce by 30% (about 350 employees) as part of restructuring its mRNA collaboration with GSK.

Takeda:
Laid off 220 workers in Massachusetts as part of ongoing restructuring efforts.

Total Layoffs:
More than 5,600 biotech and pharma workers have lost jobs since the start of 2024, with Big Pharma driving the majority of layoffs.

Industry Outlook:
Despite signs of recovery in mergers and acquisitions, the job market in the biopharma industry remains challenging, with companies continuing to downsize and restructure their workforces.