Evotec Announces 400 Job Cuts Amid Market Challenges

Company Affected:
Evotec, a German drug discovery and contract development and manufacturing company.

Number of Jobs:
Approximately 400 jobs are being cut.

Reason for Cuts:
The company is facing a slowdown in early-stage research spending and challenging market conditions.

Announcement Date:
The job cuts were announced on August 14, 2024.

Global Impact:
The layoffs are part of a broader restructuring effort across Evotec's global operations.