Pharma has $1T in firepower to spend on biotech innovation: EY
Pharmas have a record $1 trillion to deploy on new biotech innovation deals. All they need is for the Federal Reserve to lower rates.
massive layoffs
EY noted the tough two years of financing constraints that have pushed biotechs to <anchor>massive layoffs</anchor> and restructurings. But innovation has remained robust, according to the report, with the FDA approving 80 novel biopharma products in 2023, one of the highest totals ever.
Fierce Biotech Layoff Tracker 2024
Fierce Biotech Layoff Tracker 2024

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# Fierce Biotech Layoff Tracker 2024: Charles River lays off 3% of workforce after Q2 revenue drop; Cidara cuts 30% of team

By [Gabrielle Masson,](/person/gabrielle-masson-0) [Darren Incorvaia,](/person/darren-incorvaia) [Max Bayer](/person/max-bayer)Sep 12, 2024 4:00pm

[layoffs](/keyword/layoffs) [Special Reports](/special-reports) [Biotech](/biotech)

We _really_ didn't want to have to create another [Layoff Tracker](https://www.fiercebiotech.com/biotech/fierce-biotech-layoff-tracker-2023) this year. But here we are, launching the third annual iteration tracking industry layoffs.

Last year, we tallied [187 total layoffs](https://www.fiercebiotech.com/biotech/every-bad-signal-theres-good-sign-not-far-behind-biopharma-layoffs-rise-57-yoy-hope-2024) among biotech companies, a 57% jump compared to 119 in 2022. We hope that trend reverses itself in 2024.

As always, if you know of a layoff occurring at a biotech, please reach out to the [Fierce Biotech editorial team](https://www.fiercebiotech.com/fiercebiotechcom/about-us) and let us know.

* * *

## September—7 companies

**Sept. 12 - Charles River Laboratories:** In the wake of a second quarter that saw revenues decline by 3.2%, contract research organization Charles River is laying off 3% of their workforce, which equates to roughly 642 people. [Story](https://www.fiercebiotech.com/cro/wake-second-quarter-revenue-drop-charles-river-cuts-3-workforce)

**Sept. 12 - Cidara Therapeutics:** The immunotherapy biotech is laying off 30% of its workforce to reduce capital need and continue clinical development of CD388, the company’s candidate for influenza A and B. [Release](https://www.globenewswire.com/news-release/2024/09/12/2945574/0/en/Cidara-Therapeutics-Restructures-Workforce-to-Focus-on-Planned-Clinical-Development-of-CD388.html)

**Sept. 12 - Oncternal Therapeutics:** The San Diego-based biotech is terminating all clinical trials and laying off an undisclosed number of staffers in efforts to save money. [Story](https://www.fiercebiotech.com/biotech/oncternal-folds-all-clinical-trials-after-lackluster-data-drop-patient-death)

**Sept. 6 - Connect Biopharma:** In a year that has already seen Connect walk away from a Pfizer collaboration and halt its preclinical work, the biotech is now “significantly reducing” its presence in China. The company had already reduced its head count in China by around 15% in the year leading up to July. [Story](https://www.fiercebiotech.com/biotech/connect-reduces-china-workforce-mulls-strategy-lead-asthma-drug)

**Sept. 5** \- **IN8bio:** The biotech, formerly known as Incysus Therapeutics, is shifting clinical focus and laying off half its workforce. The cuts will bring down the company's workforce from 37 to 19 full-time employees. [Story](https://www.fiercebiotech.com/biotech/in8bio-halting-phase-2-glioblastoma-trial-and-laying-nearly-half-workforce-focus-leukemia)

**Sept. 5** \- **ImmunityBio:** The California-based drugmaker is turning to layoffs to save costs, trimming its workforce by 20 staffers across several California offices and one in Colorado. [Story](https://www.fiercepharma.com/pharma/cash-crunched-immunitybio-heels-fda-nod-lays-staffers-california-colorado)

**Sept. 4** \- **Astellas:** Astellas Gene Therapies is turning out the lights at its Eccles biomanufacturing facility in South San Francisco. The move is expected to impact around 100 employees, with at least 17 employees being let go. [Story](https://www.fiercepharma.com/pharma/astellas-gene-therapies-turn-out-lights-flagship-south-san-francisco-production-plant-report)

## August—21 companies

**August 30** \- **Rakuten Medical:** For the second time this year, oncology biotech Rakuten has made an undisclosed number of workforce cuts, a company spokesperson confirmed with Fierce Biotech. The previous layoff round was in January.

**August 28 – BioMarin:** The rare disease biotech plans to cut about 225 employees, equivalent to 7% of its global workforce, due to “organizational redesign efforts” as well as the company’s narrowed focus on Roctavian and the discontinuation of preclinical gene therapy BMN 293. The latest layoffs are separate from the 170 redundancies announced in May. [Story](https://www.fiercepharma.com/pharma/biomarin-cuts-deeper-225-layoffs-under-ceos-new-corporate-strategy)

**August 28 – Repare:** The oncology biotech is laying off 25% of its employees, mainly in its preclinical group, as the company focuses on its clinical-stage assets. [Story](https://www.fiercebiotech.com/biotech/repare-jettisons-preclinical-rd-25-staff-focus-most-promising-candidates)

**August 27 – Genentech:** Following the announcement of a large layoff round in April and a major restructuring initiative unveiled earlier this month, Genentech is laying off 93 more employees in South San Francisco starting in early October. [Story](https://www.fiercebiotech.com/biotech/genentech-telegraphs-93-layoffs-ca-following-separate-job-cuts-reorganization)

**August 26 – Tome Biosciences:** The gene editor, which emerged with $213 million late last year, is laying off 131 employees. The cuts are suspected to account for the majority, if not all, of Tome's staffers. [Story](https://www.fiercebiotech.com/biotech/preclinical-gene-editor-tome-laying-131-staffers-virtually-entire-workforce)

**August 21 – Aadi Bioscience:** The company's approved mTOR inhibitor called Fyarro is on track to fail a phase 2 solid tumor trial, prompting Aadi to halt the study and lay off 80% of its R&D workforce. [Story](https://www.fiercepharma.com/pharma/aadi-lays-80-rd-workforce-fyarro-heads-phase-2-fail)

**August 20 – Bayer:** The conglomerate’s latest round of layoffs has hit Basel, Switzerland, with around 150 jobs at its consumer health international HQ being cut. [Story](https://www.fiercepharma.com/pharma/bayer-layoffs-hit-switzerland-150-job-cuts-basel-consumer-health-hq-reports)

**August 16 – Ansa Biotechnologies:** The synthetic DNA company confirmed to Fierce that earlier in the week it had laid off “a handful of valued members of the Ansa team, primarily from our R&D department, to make room for new roles on the commercial side of our business.” The San Francisco-based biotech launched its Ansa Clonal DNA and Ansa DNA Fragments platforms last month and the personnel changes are “part of an important transformation, evolving from an R&D-focused startup into a commercial enterprise.”

**August 15 - Lykos Therapeutics:** Following an FDA rejection and the retraction of three research papers, the psychedelic biotech is cutting 75% of staff, equivalent to about 75 people. [Story](https://www.fiercebiotech.com/biotech/following-rejection-and-retractions-lykos-caps-chaotic-week-cutting-75-staff)

**August 14 - Viracta Therapeutics:** Viracta is going all-in on its lymphoma program, hitting pause on its solid tumor program and putting 23% of its staff out of a job in the process. [Story](https://www.fiercebiotech.com/biotech/viracta-lays-23-staff-pauses-program-slim-down-race-finish-line-lymphoma)

**August 14 - Galera Therapeutics:** A year after the FDA rejected their radiotherapy complication drug, Galera is shuttering, with the biotech’s board okaying a liquidation plan that whittles down the company’s workforce to just three people. [Story](https://www.fiercebiotech.com/biotech/gone-are-days-galera-biotech-says-good-bye-staffers-and-initiates-wind-down)

**August 13 - Acelyrin:** As part of a pivot to Tepezza competitor lonigutamab, Acelyrin is waving goodbye to about 40 of its 135 employees, equivalent to 33% of its workforce. [Story](https://www.fiercebiotech.com/biotech/acelyrin-drops-two-izokibep-indications-and-slashes-staff-focus-looming-fight-amgen)

**August 13 - Lexicon Pharmaceuticals:** The biopharma is reorganizing in hopes of slashing operational costs, halving its workforce by the end of the third quarter. The cuts will represent more than 75 jobs. [Release](https://www.globenewswire.com/news-release/2024/08/13/2929201/0/en/Lexicon-Pharmaceuticals-Announces-Strategic-Repositioning-to-Drive-Value-and-Growth-of-Commercial-Portfolio.html)

**August 12 - Boundless Bio:** After an IPO in March, the cancer company has slimmed down its discovery work and "modestly reduced its workforce." The study for Boundless' first clinical-stage asset has been enrolling slower than expected, prompting the biotech to streamline operations. [Story](https://www.fiercebiotech.com/biotech/boundless-bio-makes-modest-layoffs-five-months-after-100m-ipo)

**August 9 - AN2 Therapeutics:** As part of a pivot to early-stage projects, AN2 is laying off half its employees and stopping a phase 3 study. The biotech had 41 full-time employees at the end of February. Chief Medical Officer Paul Eckburg, M.D., is among the people leaving. [Story](https://www.fiercebiotech.com/biotech/an2-halves-headcount-stops-phase-3-trial-after-data-disappoint)

**August 8 - Entero:** A creditor has ordered Entero to repay its loan, prompting the biotech to lay off all non-essential employees, vacate its office in Boca Raton, Florida and pause all non-essential R&D activities. CEO James Sapirstein is among the employees leaving Entero, although he has secured a $400-an-hour consulting deal. [Story](https://www.fiercebiotech.com/biotech/entero-exits-laying-staff-vacating-office-and-pausing-rd-mattress-provides-hard-landing)

**August 7 - Precigen:** While throwing everything behind a push to bring a noncancerous tumor gene therapy to market, Precigen is laying off 20% of its employees and pausing several other programs to stretch its limited funds. The company ended last year with 134 employees. [Story](https://www.fiercebiotech.com/biotech/precigen-laying-20-staff-pausing-programs-eke-out-cash-approval-filing)

**August 5 - Bristol Myers Squibb:** While working its way through a major restructuring, the pharma has unveiled another round of layoffs, according to a New Jersey WARN report. BMS plans to cut 117 jobs in Lawrenceville starting this October and stretching into December 2025. [Story](https://www.fiercepharma.com/pharma/bristol-myers-telegraphs-more-layoffs-new-jersey-trimming-117-jobs-staggered-cuts)

**August 2 - Vir Biotechnology:** In a move designed to focus resources on Vir’s hepatitis program and “the highest near-term value opportunities,” the biotech is saying goodbye to around 140 employees, or 25% of its workforce. The new restructure paired with the elimination of 75 positions and the biotech’s small-molecule group back in December means the company will have reduced costs by $90 million since 2023. [Story](https://www.fiercebiotech.com/biotech/vir-gains-t-cell-engagers-sanofi-loses-25-staff-another-pipeline-switch)

**August 1 - UniQure:** The gene therapy company is undergoing a restructure that will reduce headcount by 65%, or 300 roles. Those cuts include the recent sale of a Massachusetts manufacturing facility to Genezen. The restructure is expected to be complete in the fourth quarter of this year and slash recurring costs by 40%, or $75 million annually. [Story](https://www.fiercebiotech.com/biotech/biotechs-streamline-operations-and-cut-costs-layoffs-uniqure-arbutus-and-hillevax)

**August 1 - Arbutus Biopharma:** The clinical-stage organization is cutting discovery work and a mid-stage trial, while also reducing 40% of its workforce. The layoffs will mainly impact discovery roles, plus general and administrative function. [Story](https://www.fiercebiotech.com/biotech/biotechs-streamline-operations-and-cut-costs-layoffs-uniqure-arbutus-and-hillevax)

## July—17 companies

**July 31 - Bayer:** Four months after letting go of 90 staffers at its U.S. headquarters in New Jersey, Bayer is laying off 70 more workers at the site. The new reductions are effective on Oct. 25 and are part of the pharma's major reorganization, dubbed “dynamic shared ownership.” [Story](https://www.fiercepharma.com/pharma/bayer-lops-70-more-employees-new-jersey-headquarters)

**July 31 - HilleVax:** The clinical-stage vaccine biotech is laying off 41 employees, or approximately 40% of the company’s workforce, to cut down on costs. The saved cash is supposed to help continue development of the biotech's two norovirus vaccine candidates. [Story](https://www.fiercebiotech.com/biotech/biotechs-streamline-operations-and-cut-costs-layoffs-uniqure-arbutus-and-hillevax)

**July 31 - FibroGen:** After the biotech's anti-CTGF antibody failed two late-stage cancer trials, the company is laying off 75% of its U.S. staff and stopping investment in its lead candidate. Including ex-U.S. employees, FibroGen had 486 staffers at the end of last year. [Story](https://www.fiercebiotech.com/biotech/fibrogen-lays-75-us-staff-asset-flunks-2-more-trials)

**July 29 - Viracta Therapeutics:** The precision oncology company is cutting 23% of its workforce, according to Securities and Exchange Commission documents filed July 29. The layoffs are expected to be completed in August. [Release](https://www.sec.gov/Archives/edgar/data/1061027/000095017024087020/virx-20240722.htm)

**July 29 - Pfizer:** In North Carolina, Pfizer will cut 60 jobs at a Rocky Mount sterile injectables facility by the end of July. Simultaneously, the pharma intends to let go of 150 employees at its Sanford site following a [high-profile setback](https://www.fiercebiotech.com/biotech/pfizers-phase-3-gene-therapy-trial-fails-improve-function-boys-duchenne-muscular-dystrophy) in the company's pursuit of gene therapies. [Story](https://www.fiercepharma.com/manufacturing/pfizer-lays-210-north-carolina-after-duchenne-gene-therapy-flop?utm_medium=email&utm_source=nl&utm_campaign=LS-NL-FiercePharma&oly_enc_id=6644I0863712C5A)

**July 26 - Cue Biopharma:** The Boston-based company is leaving behind a quarter of its workforce while prioritizing a preclinical autoimmune portfolio over its clinical-stage oncology drugs. The layoffs are occurring across R&D and general and administrative resources teams. [Story](https://www.fiercebiotech.com/biotech/cue-lays-25-prioritizing-preclinical-autoimmune-assets-over-clinical-cancer-drugs)

**July 25 - Relay Therapeutics:** Precision medicine company Relay has undergone a workforce reduction that will include less than 5% of all employees at the 300-person biotech, a spokesperson confirmed with Fierce Biotech. The layoffs were unrelated to a recent [deal dissolution](https://www.fiercebiotech.com/biotech/genentech-sinks-shp2-pact-leaving-relay-race-thinning-field) with Roche's Genentech, according to the spokesperson.

**July 25 - Anokion:** The immune-focused biotech has laid off an undisclosed number of employees, a spokesperson confirmed with Fierce Biotech. The layoffs were made to focus resources on Anokion's lead candidate, a phase 2 clinical stage program in celiac disease.

**July 25 - GlycoMimetics:** The Maryland-based biotech is eliminating 80% of its team after the FDA determined that the company's investigational acute myeloid leukemia treatment uproleselan requires another clinical trial to continue forward on the path to possible approval. [Release](https://www.businesswire.com/news/home/20240725473857/en/GlycoMimetics-Announces-Strategic-Review-and-Corporate-Restructuring-Plan)

**July 24 - Merck & Co.:** The big pharma has implemented a team reduction of 75 to 80 workers in its early research division this week, people familiar with the move told STAT. The layoffs account for a small percentage of Merck’s overall workforce and are part of a routine re-evaluation of the pharma's structure and resources, according to a source. [STAT](https://www.statnews.com/2024/07/24/biotech-news-merck-sage-geron-pfizer-fda-jeff-shuren-pharmacy-benefit-managers/)

**July 22 - MEI Pharma:** As it tries to preserve its remaining cash, MEI is halting work on its CDK9 inhibitor voruciclib and commencing “a reduction-in-force beginning as soon as practicable and continuing in stages as the company’s operational and strategic direction evolves.” The release did not give a sense of how many staff would be affected, although CEO David Urso and Chief Medical Officer Richard Ghalie, M.D., will be stepping down. [Story](https://www.fiercebiotech.com/biotech/mei-pharma-after-failed-infinity-merger-last-year-evaluate-strategic-alternatives)

**July 17 - Aslan:** The biotech had bold ambitions to challenge Sanofi and Regeneron's immunology blockbuster Dupixent, but now the cash-strapped Aslan has run out of road and decided it had no option but to file for voluntary liquidation. All positions have been terminated effective immediately. [Story](https://www.fiercebiotech.com/biotech/aslans-dream-challenging-dupixent-dies-cash-strapped-biotech-winds-down)

**July 16 - Rapt:** Five months after aphase 2 immunology trial was placed on hold, Rapt revealed that it's laying off 47 people—around 40% of its workforce—by the end of the third quarter. [Release](https://www.sec.gov/ix?doc=/Archives/edgar/data/1673772/000095017024084991/rapt-20240716.htm)

**July 16 - Caribou:** The CRISPR-focused company has decided that the preclinical CAR-NK research needs to go—along with 12% of Caribou’s workforce, equating to 21 employees. [Story](https://www.fiercebiotech.com/biotech/caribou-cuts-nk-cell-therapy-program-lays-12-staff-fund-car-t-priorities)

**July 3 - CureVac:** The mRNA specialist is restructuring in efforts to extend its cash runway into 2028, a move that includes laying off 30% of its employees. CureVac ended last year with 1,172 employees. [Story](https://www.fiercebiotech.com/biotech/gsk-pays-curevac-430m-mrna-vaccines-against-flu-and-covid-partner-lays-30-staff)

**July 3 - Apollomics:** The cancer biotech is narrowing the focus of a key clinical trial and letting go of an undisclosed number of staff, including two executives. Sanjeev Redkar, Ph.D., Apollomics’ co-founder and president, and Peony Yu, M.D., the biotech’s chief medical officer, are both heading for the exit. [Story](https://www.fiercebiotech.com/biotech/apollomics-execs-lead-job-cuts-cancer-biotech-ekes-out-cash)

**July 2 - Takeda:** Just two months after revealing plans to lay off 641 workers at two Massachusetts sites, the Big Pharma is parting ways with more staffers in the state, according to a WARN report. The job cuts will impact 189 employees at Takeda's Cambridge headquarters and 31 at its Lexington site starting in August and wrapping up in March 2025. [Story](https://www.fiercepharma.com/pharma/takeda-cut-another-220-jobs-massachusetts-while-emd-serono-plots-its-own-ma-layoffs)

## June—7 companies

**June 30 - Organon:** After 3% cuts were announced at the beginning of the year, the women's health company is laying off 2% more of its workforce, this time mainly R&D roles. The combined restructuring activities are expected to be complete by the end of the year. [Release](https://www.sec.gov/Archives/edgar/data/1821825/000182182524000083/ogn-20240630.htm)

**June 28 - Aerovate Therapeutics:** After deciding to end a late-stage clinical trial for a dry powder inhaler designed to treat advanced pulmonary arterial hypertension (PAH), Aerovate is laying off "nearly all" of its workforce, according to Securities and Exchange Commission filings. The biotech has already implemented the first round of layoffs, sending 39 staffers—about 78% of the team—out the door. [Release](https://ir.aerovatetx.com/static-files/3b806cf8-c984-4ffd-af26-2007fb8745f3)

**June 28 - GeNeuro:** After reporting the failure of its phase 2 long COVID trial, the Swiss biotech is laying off staff and seeking strategic alternatives. [Story](https://www.fiercebiotech.com/biotech/geneuros-long-covid-trial-fails-triggering-layoffs-and-search-strategic-alternatives)

**June 26 - Ovid Therapeutics:** The neurological disorder-focused biotech is letting go of 17 people in efforts to extend its cash runway, according to Securities and Exchange Commission filings. The 43% workforce reduction has an effective date of July 11, and Ovid anticipates the process to be substantially completed by the end of the third quarter this year. [Release](https://www.sec.gov/Archives/edgar/data/1636651/000119312524172225/d822326d8k.htm)

**June 24 - G1 Therapeutics:** Alongside news that Cosela had flunked a phase 3 breast cancer study, G1 announced that it would “discontinue the anticipated hiring of staff” that had been lined up to roll out the drug in that indication. In order to stick to its ambition of achieving profitability by the second half of 2025, the biotech will also make “targeted headcount reductions outside of the existing commercial organization to streamline the company.” The release didn’t give a clue as to how many staff are likely to be impacted. [Release](https://investor.g1therapeutics.com/news-releases/news-release-details/g1-therapeutics-provides-update-phase-3-preserve-2-trial)

**June 24 - eFFECTOR Therapeutics:** The oncology biotech has laid off its team, including CEO Stephen Worland, Ph.D., as the company plans to wind down. [Story](https://www.fiercebiotech.com/biotech/end-effector-therapeutics-oncology-biotech-winds-down-after-mid-stage-fail)

**June 13 - Barinthus Biotherapeutics:** Formerly known as Vaccitech, the U.K.-based company is restructuring its pipeline and reducing the workforce by 25%. [Story](https://www.fiercebiotech.com/biotech/barinthus-lays-25-sidelines-prostate-cancer-program-stretch-out-cash)

## May—20 companies

**May 29 - Ikena Oncology:** The biotech is cutting one of two assets and laying off more than half of its workforce, or about 18 people. The move comes after January cuts saw 35% of the workforce let go. [Story](https://www.fiercebiotech.com/biotech/ikena-cuts-hippo-med-half-staff-latest-reprioritization)

**May 28 - Takeda:** After announcing a $900 million restructuring effort, the pharma has unveiled more layoff plans, this time for hundreds of workers across two sites in Massachusetts. The pharma will be cutting 495 staffers at its U.S. headquarters in Cambridge and 146 at its Lexington campus, according to a WARN notice. [Story](https://www.fiercepharma.com/pharma/takeda-plots-641-layoffs-two-massachusetts-sites-amid-company-wide-restructuring-plan)

**May 21 - Lyra Therapeutics:** The biotech is laying off 87 employees, including Chief Technology Officer John Bishop, Ph.D. The layoffs are effective today for 80 people and on June 20 for the remaining seven. [Story](https://www.fiercebiotech.com/biotech/exscientia-cuts-quarter-staff-while-preserving-ai-generated-pipeline)

**May 21 - Exscientia:** The AI drug hunter is initiating “efficiency measures” to save cash, which includes a workforce reduction expected to impact between 20% and 25% of staff by the end of this year. [Story](https://www.fiercebiotech.com/biotech/exscientia-cuts-quarter-staff-while-preserving-ai-generated-pipeline)

**May 20 - BIO:** The biotech advocacy organization is implementing a "strategic plan" that includes laying off 30 people, according to an emailed statement from President and CEO John Crowley. The restructure is designed to "bring stronger focus and greater impact in everything we do," Crowley said.

**May 17 - Erasca:** The San Diego-based biotech, which focuses on treatments for cancers driven by the RAS/MAPK pathway, is clearing space in its own pipeline and laying off 18% of its employees. Most of the affected roles are located in drug discovery functions or the programs being deprioritized. [Story](https://www.fiercebiotech.com/biotech/erasca-lays-18-while-swapping-out-kras-program-fresh-anti-tumor-options)

**May 16 - Akari Therapeutics:** The biotech is implementing a 67% workforce reduction in efforts to reduce operating costs. Part of the restructuring plan includes eliminating certain undisclosed senior management positions. [Release](http://investor.akaritx.com/news-releases/news-release-details/akari-therapeutics-reports-first-quarter-2024-financial-results)

**May 15 - BioMarin:** After sharing plans to slash several pipeline programs, BioMarin has confirmed that 170 employees are also leaving as part of the R&D restructure. The job cuts represent around 5% of the company’s workforce, a BioMarin spokesperson told Fierce Biotech via email. The layoffs are slated to be complete by the end of July. [Story](https://www.fiercebiotech.com/biotech/biomarin-sheds-170-jobs-wake-narrowed-rd-refocus)

**May 15 - Tenaya Therapeutics:** Heart disease-focused Tenaya is implementing “cost-containment measures” designed to fund clinical readouts for two lead gene therapies. As a result, the biotech is cutting down its workforce by 22%, with the changes due to be completed in the coming weeks. [Story](https://www.fiercebiotech.com/biotech/bolt-bio-halves-workforce-and-swaps-out-ceo-while-tenaya-lays-fifth-staff)

**May 15 - Bolt Biotherapeutics:** The oncology biotech is laying off around 50% of staff tied to a “strategic refocusing” that will also see the company halt development of its phase 2 immune-stimulating antibody conjugate. The changes reach all the way to the top, with CEO Randall Schatzman and Chief Medical Officer Edith Perez, M.D., being moved to “advisory roles.” [Story](https://www.fiercebiotech.com/biotech/bolt-bio-halves-workforce-and-swaps-out-ceo-while-tenaya-lays-fifth-staff)

**May 15 - Trevena:** The CNS disorder-focused biotech has implemented a 35% workforce reduction since the end of 2023. The company is also continuing a strategic review of options for Olinvyk, an opioid agonist injection approved for adults with acute pain. [Release](https://www.globenewswire.com/news-release/2024/05/15/2882274/0/en/Trevena-Reports-First-Quarter-2024-Results-and-Provides-Business-Update.html)

**May 14 - Bayer:** German pharma Bayer is cutting 1,500 jobs across the company. Trickles of layoffs began earlier this year after CEO Bill Anderson looked to slash managerial roles to lessen bureaucracy. [Story](https://www.fiercepharma.com/pharma/bayer-reduced-1500-roles-new-organization-takes-shape)

**May 13 - Takeda:** Amid a [multi-year reorganization](https://www.fiercepharma.com/pharma/takeda-plots-path-profitability-900m-restructuring-plan) program, Takeda has told employees it will be shuttering a research site in San Diego, a company spokesperson told Fierce Biotech via email. About 340 full-time employees currently work at the San Diego center, though some roles may also be moved to other Takeda research locations, including in Cambridge, Massachusetts. The spokesperson said the pharma is encouraging employees to apply for these positions, which would include relocation support.

**May 9 - Ginkgo Bioworks:** After “disappointing” first-quarter revenues, Ginkgo is accelerating plans to break even by the end of 2026, and is now setting its sights on reducing operating costs by $200 million by the middle of next year. A key part of this program will be a “reduction in labor expenses of at least 25%, across both G&A and R&D functions,” the company explained in an earnings report. While this will include a “reduction in force,” the company did not put a figure on how many employees would be impacted. [Release](https://www.prnewswire.com/news-releases/ginkgo-bioworks-reports-first-quarter-2024-financial-results-302141730.html)

**May 9 - Pfizer:** The pharma, which completed its $43 billion buyout of ADC specialist Seagen in December, has made the “difficult decision” to propose another round of staff reductions and role changes at the newly acquired company, a Pfizer spokesperson said. This time, the proposal will hit Seagen’s European headquarters in Switzerland, where 74 positions could be up for the chop. More jobs could be on the line if Pfizer isn’t able to transfer an additional 21 employees into new roles. [Story](https://www.fiercepharma.com/pharma/pfizer-puts-74-seagen-jobs-chop-it-continues-consolidate-newly-combined-cancer-organization)

**May 8 - Marinus:** As part of a wider cost-cutting plan, the Pennsylvania is jettisoning a fifth of its workforce. The company also mentioned “additional cost reductions across both R&D and general and administrative functions." [Story](https://www.fiercebiotech.com/biotech/marinus-lays-20-staff-steady-ship-after-iv-seizure-med-fail)

**May 7 - Kenvue:** The company's board of directors approved a plan to cut 4% of its global workforce as a “transition service agreement” with J&J winds down. The company employed about 23,000 employees at the end of last year, so the layoff initiative could affect some 920 workers. [Story](https://www.fiercepharma.com/pharma/kenvue-maps-out-hundreds-layoffs-service-pact-jj-winds-down)

**May 3 - Gilead:** The big pharma is cutting 58 roles at a Foster City, California site, according to a WARN report. The layoffs are slated to be complete by June 28, according to the report. "While our business continues to perform well, we continue to assess where and how we’re best organized to support the growth of the business," a Gilead spokesperson told Fierce Biotech.

**May 2 - Chroma Medicine:** The Boston-based biotech working to develop epigenetic medicines has laid off an undisclosed number of staffers. Roles affected included some general & administrative and R&D positions, a company spokesperson told Fierce via email. The preclinical company is now focused on advancing some of its programs to the clinic, the spokesperson said.

**May 1 - Emergent BioSolutions:** About two months into his CEO job at the CDMO-turned-biopharma company, Joseph Papa has laid out his turnaround plan that includes reducing the current workforce by about 300 employees. The company is also shuttering its Baltimore-Bayview drug substance manufacturing facility and its Rockville drug product facility, both of which are located in Maryland. [Story](https://www.fiercepharma.com/pharma/emergent-biosolutions-cut-300-employees-shutter-2-facilities-restructuring-launched-under)

## April—12 companies

**April 23 - Bristol Myers Squibb:** The big pharma plans to cut costs by $1.5 billion by the end of 2025 in a massive restructure that includes laying off about 2,200 employees. [Story](https://www.fiercebiotech.com/biotech/bristol-myers-cutting-15b-costs-less-two-years-2000-plus-employees-impacted-2024)

**April 23 - Tessera Therapeutics:** About 13-14% of employees, or 50 people are being let go from Tessera as the biotech shifts from preclinical to clinical development. "As a result of positive data from our preclinical programs, we have reached an inflection point where we need to rebalance the resources of our organization to prioritize and grow our clinical development efforts in anticipation of advancing multiple candidates into the clinic," the company said in an April 24 statement.

**April 23 - BenevolentAI:** Eleven months after restructuring, the AI-enabled drug developer is pulling another pivot, axing plans to launch software products, laying off another 30% of staff and closing its U.S. office. [Story](https://www.fiercebiotech.com/biotech/benevolentai-lays-30-staff-exits-us-site-funding-gap-looms)

**April 19 - Sanofi:** The pharma's global restructuring is underway, with layoffs stretching to Sanofi’s Belgian offices. Sixty-seven employees were laid off at a site in Ghent, while 32 jobs are on the chopping block at Sanofi’s Belgium HQ in Diegem, a company spokesperson confirmed. [Story](https://www.fiercebiotech.com/biotech/sanofi-cuts-staff-belgium-early-stage-research-dwindles)

**April 17 - Ultimovacs:** The Norwegian biotech has revealed that 40% of staff will be jettisoned to keep the company afloat next year The move comes after a trial flop assessing the effect of UV1, a candidate designed to induce a T-cell response against an enzyme that is active in most cancer cells, among patients with melanoma. [Story](https://www.fiercebiotech.com/biotech/ultimovacs-lays-40-survive-wake-cancer-vaccines-phase-2-fail)

**April 16 - Vedanta Biosciences:** Microbiome biotech Vedanta is cutting roughly 24 jobs, including 12 employees in the CMC team. CEO Bernat Olle wrote on LinkedIn that the company was "coming off a peak of manufacturing campaigns that supplied several mid and late-stage clinical studies in our pipeline." [Post](https://www.linkedin.com/posts/bernat_if-you-are-looking-for-talent-in-quality-activity-7184225495301918722-MC7V/?utm_source=share&utm_medium=member_desktop)

**April 10 - Genentech:** Genentech is trimming roughly 3% of its workforce across "several departments," a spokesperson confirmed, after the layoffs were first reported by _Endpoints News_. The larger biotech's parent company Roche announced cuts to its product development team earlier this year. According to a California WARN notice, 436 employees will be impacted.

**April 9 - Novartis:** The Big Pharma has revealed plans to shake up its global development group over the next few years, with intentions to cut around 440 development positions in Switzerland, plus up to 240 roles in the U.S., a spokesperson said. [Story](https://www.fiercebiotech.com/biotech/rallybio-financial-fuel-falling-chops-45-workforce-extend-cash-runway-26)

**April 5 - Sanofi:** The pharma is setting out plans for a new "simplified R&D structure" that zooms in on immunology and means an undisclosed number of staffers will be losing their jobs.A Sanofi spokesperson declined to disclose to Fierce about how many employees will be impacted in total, restating that prioritizing immunology, “means that we are reallocating and refocusing resources to accelerate our investments in programs with high potential.” [Story](https://www.fiercebiotech.com/biotech/sanofi-institutes-global-restructure-layoffs-tow-after-full-pipeline-reprioritization-rd)

**April 5 - Boehringer Ingelheim:** Since the pharma's Humira biosimilar—dubbed Cyltezo—has struggled to gain traction, Boehringer is pruning its ranks. The company has revealed plans to lay off an unknown number of staffers from its customer-facing teams for Cyltezo as part of a pivot toward a hybrid in-person and virtual sales model by June 30. [Story](https://www.fiercepharma.com/pharma/humira-biosimilar-revenues-languish-boehringer-ingelheim-plots-layoffs-pivot-hybrid-sales)

**April 4 - Amylyx Pharmaceuticals:** After Relyvrio failed a confirmatory trial, Amylyx has pulled the ALS therapy off the market and is laying off about 70% of staff.As of the end of 2023, Amylyx had 384 full-time employees, according to an annual securities filing. The cuts will leave the company with about 100 remaining workers. [Story](https://www.fiercepharma.com/pharma/amylyx-pull-failed-als-drug-relyvrio-market-cut-70-staffers)

**April 1 - Carisma Therapeutics:** The immunotherapy-focused biotech plans to let go of 37% of staffers and drop one of two clinical assets in an effort to stretch its cash into the third quarter of 2025. The layoffs follow a reverse merger with Sesen Bio in March 2023, a move that increased Carisma's personnel costs. [Story](https://www.fiercebiotech.com/biotech/carisma-lets-go-37-staff-car-m-candidate-stretch-cash-runway)

### Related

[No reprieve for biopharma layoffs in Q1: Fierce Biotech analysis](/biotech/biopharma-layoffs-dont-see-reprieve-q1-2024-fierce-biotech-analysis)

## March—18 companies

**March 29 - Mustang Bio:** Cell therapy-focused Mustang has laid off an undisclosed number of workers. The company declined to disclose how many employees would be impacted, with CEO Manuel Litchman, M.D., telling Fierce Biotech in a statement that "Mustang cannot comment on the size of the reduction in force." The biotech announced recently that, like its peers in the space, it would explore testing one of its assets as a treatment for autoimmune diseases. According to a [Massachusetts WARN notice](https://www.mass.gov/info-details/worker-adjustment-and-retraining-act-warn-weekly-report) filed April 16, the company laid off 47 people.

**March 28 - Omega Therapeutics:** The mRNA-focused company is laying off 35% of its workforce as part of a "cost reduction and strategic prioritization initiative." Omega will also focus resources on certain preclinical programs including OTX-2101 for non-small cell lung cancer, its HNF4A program in liver regeneration, and an epigenomic controller for obesity in collaboration with Novo Nordisk. [Release](https://www.globenewswire.com/news-release/2024/03/28/2854087/0/en/Omega-Therapeutics-Reports-Fourth-Quarter-and-Full-Year-2023-Financial-Results-and-Provides-Strategic-Update.html)

**March 28 - Xilio:** The biotech may have secured $43.5 million from Gilead for the license to a tumor-activated IL-12, but Xilio also let go of 15 employees on the same day. The decision to reduce its workforce by 21% was a response to the biotech's narrowing focus, having handed over one IL-12 drug to Gilead and halting monotherapy development of another. [Story](https://www.fiercebiotech.com/biotech/gilead-pays-435m-xilios-early-phase-il-12-prospect-entering-race-after-rivals-exit)

**March 27 - AlmataBio:** Avalo Therapeutics agreed to hand over $22 million in stock and cash to acquire AlmataBio, but Avalo only has eyes for Almata's anti-IL-1β monoclonal antibody AVTX-009. As a result, none of Almata's employees will be keeping their job under the new owner. [Story](https://www.fiercebiotech.com/biotech/avalo-signals-change-fortunes-snapping-almatabio-its-ex-lilly-inflammatory-drug)

**March 27 - Bayer**: The pharma will lay off 90 employees working at the company's U.S. headquarters in Whippany, New Jersey. The cuts, which are effective on June 19, were revealed in a New Jersey WARN notice and confirmed by Bayer over email. [Story](https://www.fiercepharma.com/pharma/more-revamp-bayer-it-axes-90-its-us-headquarters-new-jersey)

**March 26 - Bristol Myers Squibb**: Two months after closing its multibillion-dollar acquisition of Mirati Therapeutics, BMS is bidding adieu to 252 workers at the biotech's headquarters in California. [Story](https://www.fiercepharma.com/pharma/bms-cuts-hundreds-mirati-staffers-months-after-closing-58b-buyout)

**March 22 - GSK**: After GSK’s $2 billion buyout of Canada-based Bellus Health last summer, an undisclosed number of the biotech’s team members are out of a job. While it’s unclear how many Bellus staff members will lose their jobs, former Bellus CEO Roberto Bellini wrote, “After having completed the transition activities linked to the GSK acquisition, most Bellus Health employees will be wrapping up their involvement with the company on March 31,” in a March 21 LinkedIn post. [Story](https://www.fiercebiotech.com/biotech/after-gsk-acquisition-bellus-ceo-seeks-work-opportunities-displaced-staff)

**March 21 - NextCure**: The cancer biotech says it laid off 37% of the team in the first quarter and paused internal manufacturing to help save money. The company expects to pay $800,000 in severance and other benefits plus termination fees. [Filing](https://ir.nextcure.com/static-files/d34da49e-3474-4ee8-a896-bd6303a0454c)

**March 19 - CureVac**: A company spokesperson confirmed that about 150 employees have agreed to a voluntary exit as the mRNA biotech cuts costs. The job losses stem from the company pivoting away from developing a COVID-19 vaccine. The news was first reported by German news outlet SWR.

**March 14 - Spruce Biosciences**: In the wake of a phase 2 trial for the biotech's only drug candidate, Spruce is sending 21% of staffers packing.to extend its cash runway through the end of 2025. [Story](https://www.fiercebiotech.com/biotech/spruces-stock-crashes-biotech-lays-fifth-staff-wake-phase-2-hyperplasia-fail)

**March 13 - Sangamo Therapeutics**: The California-based biotech is winding down French research and manufacturing operations, a move that also means all 93 job positions in France will be eliminated. The move aligns with the company's shift away from CAR-Treg cell therapy programs, with the shutdown anticipated to begin in April and wrap up by the end of 2024. [Release](https://investor.sangamo.com/news-releases/news-release-details/sangamo-therapeutics-reports-recent-business-highlights-and-7)

**March 13 - Coherus BioSciences**: About a year after launching a prior round of layoffs, Coherus is again reducing its head count, this time by 30%. The latest round of cuts started March 7 and are expected to be complete by the end of the year and save more than $25 million in annual costs. [Story](https://www.fiercepharma.com/pharma/coherus-cuts-jobs-again-30-layoff-amid-sharpened-focus-cancer-drugs)

**March 13 - Takeda**: After an unsuccessful attempt to sell an Austrian manufacturing and development site, Takeda is calling it quits on much of the operations at the facility. The Japan-based company is shutting down production and R&D operations at its AAV gene therapy plant in Austria, with 190 employees set to lose their jobs. [Story](https://www.fiercepharma.com/pharma/following-gene-therapy-pivot-takeda-says-its-winding-down-manufacturing-and-rd-operations)

**March 8 - Kronos Bio**: The biotech has made its second round of layoffs in five months, with another fifth of its workforce heading to the exits. Laying off 21% of staff will help extend Kronos' cash runway into the second half of 2026, the company said. [Story](https://www.fiercebiotech.com/biotech/kronos-sends-another-fifth-staff-exits-five-months-after-last-layoffs)

**March 5 - Meissa Vaccines**: RSV-focused Meissa is halting development activities and laying off an undisclosed number of workers given the current fundraising environment, the company told Fierce Biotech. [Story](https://www.fiercebiotech.com/biotech/meissa-vaccines-future-limbo-due-current-fundraising-climate-ceo)

**March 5 - Sumitomo Pharma**: Hundreds of layoffs last summer weren't enough to stem the tide, with the Japanese drugmaker letting go of 400 staffers this month. The cuts at Sumitomo Pharma America come amid a “severe business environment” and are part of an effort to boost organizational efficiency and streamline operations. [Story](https://www.fiercepharma.com/pharma/sumitomo-pharma-lays-another-400-us-staffers-face-sliding-revenues)

**March 4 - Arrakis Therapeutics**: The RNA-focused biotech is laying off 20% of staff, with 71 employees remaining after the cuts are implemented, an Arrakis spokesperson told Fierce Biotech.

**March 1 - Moderna:** The big biotech is laying off employees within its manufacturing unit, with the move tied to a resizing of its COVID production work. The Moderna rep declined to say how many employees would be affected. [Story](https://www.fiercepharma.com/pharma/moderna-lays-parts-manufacturing-team-after-rightsizing-covid-footprint)

## February—16 companies

**February 29 - Gritstone Bio:** The biotech is laying off 40% of employees after delaying the start of a phase 2 trial testing its COVID-19 vaccine, which in turn pushed back the receipt of federal funds. [Story](https://www.fiercebiotech.com/biotech/gritstone-lays-40-team-after-delayed-launch-covid-vax-trial)

**February 29 - Kineta:** After a strategic review, the small oncology biotech is conducting a corporate restructuring and reducing its workforce by 64%, or seven positions, including CEO Shawn Iadonato, Ph.D. [Story](https://www.fiercebiotech.com/biotech/after-saving-yumanitys-assets-kineta-faces-shut-down-private-placement-fails-show)

**February 28 - Johnson & Johnson:** The pharma is closing a nearly 200,000 square-foot R&D outpost in Brisbane, California, less than 18 months after it opened. In conjunction with the closure, the company has implemented 55 permanent layoffs that will go into effect by April 26. [Story](https://www.fiercebiotech.com/biotech/jj-shut-down-massive-bay-area-rd-facility-less-18-months-after-opening-it)

**February 28 - ObsEva:** With its money and options dwindling, ObsEva has finally decided to wind down operations and lay off all employees. [Story](https://www.fiercebiotech.com/biotech/obseva-winds-down-and-lays-all-staff-money-options-run-out)

**February 28 - Nicox:** The ophthalmology biotech has agreed to an amendment to the repayment of a $14.5 million debt with Kreos Capital, which will extend the company’s cash runway to November. But, to secure this deal, Nicox had to agree to “reduce its operations in France and Italy” as well as cut operating costs and restructure the company. [Story](https://www.fiercebiotech.com/biotech/cash-runways-running-out-year-nicox-and-longeveron-plan-layoffs-and-narrow-focus)

**February 28 - Longeveron:** The regenerative medicine biotech is discontinuing a phase 2 trial of its lead candidate Lomecel-B in aging-related frailty in Japan, a move that will result in “related staff reductions” that the company listed as part of “cost-saving measures.” [Story](https://www.fiercebiotech.com/biotech/cash-runways-running-out-year-nicox-and-longeveron-plan-layoffs-and-narrow-focus)

**February 26 - Denali Therapeutics:** The biotech is reorganizing, laying off an undisclosed number of workers and sending some to a new spin-out. A company spokesperson said the workforce reduction was “considerably less than 10%” of the total team. [**Story**](https://www.fiercebiotech.com/biotech/tail-sanofi-partnered-als-flop-denali-confirms-layoffs)

**February 20 - Ring Therapeutics:** A Flagship Pioneering spokesperson confirmed that Ring Therapeutics laid off 19 employees, representing less than 20% of the company. The news came days after another fellow Flagship biotech, Sonata Therapeutics, confirmed cutting costs as well.

**February 16 - Clade Therapeutics:** Cell therapy biotech Clade recently laid off employees, Chief Business Officer and co-founder Jim Glasheen, Ph.D., said in LinkedIn post. The company declined to comment further when asked. [**LinkedIn**](https://www.linkedin.com/posts/jim-glasheen-36510712_yesterday-at-clade-we-went-through-the-painful-activity-7164660283997683712-tAvs?utm_source=share&utm_medium=member_desktop)

**February 16 - Sonata Therapeutics:** Sonata Therapeutics, part of the Flagship Pioneering ecosystem, has laid off 21 employees, or roughly a third of employees, a spokesperson confirmed. The cuts are a result of the company refocusing its strategy "around its most immediate priorities" and were first reported by _STAT News._

**February 15 - Aurinia Pharmaceuticals:** After failing to attract a buyer, the biotech has resorted to trimming its workforce by 25% and cleaning out its R&D pipeline. Aurinia said the layoffs won't affect commercial or commercial-supporting roles. [**Story**](https://www.fiercebiotech.com/biotech/aurinia-after-failed-search-suitors-lays-25-and-drops-rd-pipeline)

**February 13 - LianBio:** The Chinese company has become the latest biotech to throw in the towel, with a prolonged dissolution expected closer to 2027. The biotech anticipates laying off 50 full-time employees—half of its staff—by the end of March, with “additional workforce reductions” due to occur during the year. [**Story**](https://www.fiercebiotech.com/biotech/lianbio-lays-half-workforce-biotech-begins-wind-down)

**February 9 - Roche:** The Swiss drug developer plans to lay off a few hundred people in its product development team. Roche says it expects “the majority of the proposed headcount reduction to impact external contractors,” with less than 6% of the permanent product development team potentially impacted. [**Story**](https://www.fiercebiotech.com/biotech/roche-shrink-product-development-team-mainly-impacting-contractors)

**February 9 - Synlogic:** The Massachusetts-based biotech is discontinuing a pivotal phase 3 trial, shuttering operations and laying off more than 90% of its workforce as it undergoes a strategic review. [**Story**](https://www.fiercebiotech.com/biotech/end-line-synlogic-biotech-lays-90-over-pku-drugs-phase-3-fail)

**February 8 - Sandoz:** 20 years ago, Sandoz carved out a sizable generics foothold through dual mergers with Germany's Hexal and U.S.-based Eon Labs. Now, the Swiss manufacturing giant is permanently closing one of the latter company's main facilities in Wilson, North Carolina, with 213 employees set to be laid off by Oct. 4. [**Story**](https://www.fiercepharma.com/pharma/sandoz-lay-213-and-shutter-eon-labs-oral-solids-plant-us-generics-scene-sours)

**February 6 - Rallybio:** The biotech is parting ways with 45% of its staff, or 19 employees, and focusing on its two phase 2-ready programs to extend its cash runway into the middle of 2026. [**Story**](https://www.fiercebiotech.com/biotech/rallybio-financial-fuel-falling-chops-45-workforce-extend-cash-runway-26)

### Related

[Layoffs rise 57% YOY in a good, bad and ugly 2023 for biotech](/biotech/every-bad-signal-theres-good-sign-not-far-behind-biopharma-layoffs-rise-57-yoy-hope-2024)

## January—24 companies

**January 31 - Xencor:** The California-based biotech has undergone a 10% workforce reduction impacting 25 positions, a company spokesperson confirmed with Fierce Biotech. The company is focusing more intently on high potential T cell engagers and narrow evaluation for its investigational dual checkpoint inhibitor, dubbed vudalimab, according to the spokesperson.

**January 31 - Rakuten Medical:** Oncology biotech Rakuten has made an undisclosed number of workforce cuts, a company spokesperson confirmed with Fierce Biotech.

**January 31 - Atara Biotherapeutics:** After a phase 2 flop late last year, the allogeneic T-cell company has undergone two layoff rounds, most recently sending 25% of staff and Chief Medical Officer Manher (AJ) Joshi, M.D., out the door. The January workforce reduction equates to 44 people and follows a layoff round that included 73 staffers in December 2023. [**Story**](https://www.fiercebiotech.com/biotech/after-phase-2-fail-cell-therapy-biotech-atara-fires-cmo-and-lays-25-staff)

**January 30 - 2seventy bio:** The cell therapy company is offloading pre-clinical and clinical cell therapy programs to Regeneron to form a new unit, sending 160 employees over to Regeneron. The remaining workforce, which will focus on approved med Abecma, will be downsized to only 65 employees, with about 55 people laid off. [**Story**](https://www.fiercebiotech.com/biotech/2seventy-splits-once-more-sending-cell-therapy-pipeline-regeneron)

**January 29 - Pfizer:** After announcing 285 job cuts at a New York R&D site earlier this month, the Big Pharma is expecting more layoffs, this time for 52 employees at a facility in South San Francisco, according to a WARN report. [**Story**](https://www.fiercepharma.com/pharma/pfizers-cost-cutting-campaign-ramps-back-first-round-layoffs-2024)

**January 29 - Hookipa Pharma:** After Roche ended an alliance with Hookipa, the company has chosen to lay off 30% (about 55 people) of its workforce and focus on a slimmed-down list of candidates. [**Story**](https://www.fiercebiotech.com/biotech/hookipa-reeling-roches-kras-cull-lays-30-workforce-deprioritizes-programs)

**January 26 - Strand Therapeutics:** The programmable mRNA biotech is letting go 18% of staff, according to a company LinkedIn post. The cuts are being made so Strand can continue investing in its discovery programs and move forward with its first clinical trial, according to the company. [**Release**](https://www.linkedin.com/posts/strandtx_this-week-strand-has-made-the-difficult-activity-7156649541373452288-yTy-/?utm_source=share&utm_medium=member_desktop)

**January 22 - Cara Therapeutics:** The pruritus-focused drug developer is l​​​​​aying off up to half of its staff as it narrows its clinical ambitions. The restructuring will extend Cara's cash runway into 2026. [**Story**](https://www.fiercebiotech.com/biotech/itch-treater-cara-cuts-50-team-extend-runway-2026)

**January 19 - Ikena Oncology:** Looking to stretch its $175 million cash pile into the second half of 2026, the biotech is laying off around 20 people. The 35% headcount reduction will mainly affect drug discovery positions and will leave Ikena with around 37 full-time employees. [**Story**](https://www.fiercebiotech.com/biotech/jilted-bristol-myers-ikena-cuts-headcount-35-retreat-drug-discovery)

**January 19 - PMV Pharma:** The precision oncology biotech is laying off 30% of staff as it prioritizes pushing its lead solid tumor candidate toward a phase 2 trial in the coming months. [**Story**](https://www.fiercebiotech.com/biotech/pmv-lays-30-fund-phase-2-trial-remaining-solid-tumor-drug)

**January 18 - Bayer:** The German pharma is launching a sweeping business overhaul that will “come at the expense of many managerial employees,” according to chairwoman of the executives committee on Bayer’s supervisory board, Barbara Gansewend. The cuts will begin in the coming months and will end in 2025, the company said without providing a specific number of roles impacted. [**Story**](https://www.fiercepharma.com/pharma/bayer-ceo-bill-anderson-makes-mark-major-restructuring-significant-job-cuts)

**January 17 - Dewpoint Therapeutics:** Condensate-focused Dewpoint Therapeutics has laid off 18 employees and narrowed its pipeline following two lost pharma collaborations. Pfizer and Merck both moved on from partnered programs but the biotech is pressing forward with its lead asset, set to enter the clinic in the first half of 2025. [**Story**](https://www.fiercebiotech.com/biotech/dewpoint-narrows-headcount-pipeline-biotech-gears-take-condensates-clinic-next-year)

**January 16 - Allakos:** Allakos' decision to ax its lead asset came at the cost of substantial human capital, with the biotech laying off half its staff. The final nails in the coffin for lirentelimab were two midstage failures in patients with eczema and chronic spontaneous urticaria. [**Story**](https://www.fiercebiotech.com/biotech/allakos-drops-lead-asset-after-midphase-flops-join-litany-letdowns-halves-headcount)

**January 10 - C4 Therapeutics:** Two months after discontinuing one of its cancer assets, the small molecule medicines biotech has revealed a 30% workforce reduction, impacting a total of 45 positions. [**Story**](https://www.fiercebiotech.com/biotech/c4-lays-30-staff-aftermath-brd9-degrader-discontinuation)

**January 8 - Affimed:** Affimed is dissolving its research and preclinical development teams, cutting 50% of its staff as a result. The company says all funds will go toward its clinical-stage programs, which include a package of innate cell engages. [**Release**](https://www.affimed.com/affimed-announces-leadership-change-and-organizational-restructuring/)

**January 8 - Exelixis:** Around 175 Exelixis employees are heading for the exits in the coming months, a workforce reduction that represents 13% of the company's total workforce. [**Story**](https://www.fiercebiotech.com/biotech/exelixis-lays-175-employees-refocus-emerging-pipeline)

**January 8 - Organon:** In the fourth quarter of 2023, Organon implemented restructuring activities across certain markets and functions which impacted about 3% of employees, a company spokesperson told Fierce Biotech via email on Jan. 8.

**January 5 - Allogene:** Off-the-shelf cell therapy biotech Allogene laid off 22% of its employees as part of a clinical reshuffling that now has the company focused on first-line lymphoma patients who have minimal residual disease following six cycles of chemotherapy. The layoffs are expected to cost the company between $5-5.5 million in severance payments and benefits. [**Disclosure**](https://www.sec.gov/ix?doc=/Archives/edgar/data/1737287/000119312524002888/d103673d8k.htm)

**January 5 - NanoString Technologies:** To cut costs, the company is laying off about 50 employees, representing 9% of its global workforce. The workforce reduction is expected to be complete by March 31. [**Release**](https://www.sec.gov/Archives/edgar/data/1401708/000140170824000004/nstg-20231231.htm)

**January 5 - Senti Bio:** The cell and gene therapy biotech is cutting its workforce down by 37% and prioritizing resources on SENTI-202, an off-the-shelf CAR-NK candidate being tested for the treatment of acute myeloid leukemia and other hematologic malignancies in a phase 1 clinical trial, with the first patient expected to be dosed in the second quarter of this year. [**Release**](https://www.globenewswire.com/news-release/2024/01/05/2804872/0/en/Senti-Bio-Announces-Strategic-Steps-to-Prioritize-Investment-in-Lead-Clinical-Program.html)

**January 5 - AlloVir:** Less than a month after suffering a triple phase 3 failure, the allogeneic T cell immunotherapy biotech is cutting 95% of its workforce. The cuts are expected to take place mostly in the first quarter of this year and finish up by Apr. 15. [**Story**](https://www.fiercebiotech.com/biotech/reeling-triple-phase-3-failure-allovir-cuts-95-workforce)

**January 4 - Aera Therapeutics:** The genetic medicine company has laid off a quarter of its staff. The biotech only just emerged from stealth a year ago in February 2023 with $193 million. [**Story**](https://www.fiercebiotech.com/biotech/layoffs-hit-crispr-company-intellia-and-delivery-startup-aera)

**January 4 - Intellia Therapeutics:** The CRISPR company is laying off 15% of its team after pausing exploratory research work. [**Story**](https://www.fiercebiotech.com/biotech/layoffs-hit-crispr-company-intellia-and-delivery-startup-aera)

**January 4 - Pfizer:** The Big Pharma's vaccine R&D site in Pearl River, NY is expecting to lay off 285 employees starting in February, according to a New York WARN notice. The spot is one of Pfizer’s nine major R&D sites and currently employs 1,012 workers. The layoff wave is set to conclude by March 25. [**Release**](https://dol.ny.gov/system/files/documents/2023/12/warn-pfizer-hudson-valley-2023-0169-12-22-2023.pdf)

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