Pharma, Biotech, & Life Sciences

Latest Pharma, Biotech, & Life Sciences Layoffs News and Data

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Latest Pharmaceutical, Biotechnology, & Life Sciences Layoffs -2024

June 2024

Company: Medtronic

Headquarters:  Minneapolis, Minnesota, United States

Number of People:   ND

“Medtronic continually evaluates its operations and aligns our resources with our highest strategic priorities. As part of those efforts, the company will reduce roles across our global workforce.”

The company again declined to give specifics, from the number of employees affected to impacted business divisions or geographic locations.

June 2024

Company: Cara Therapeutics

Headquarters: Stamford, Connecticut, United States

Number of People: 70% of Workforce

Cara Therapeutics announced a reduction in the biopharmaceutical company’s workforce by about 70%. The company said it expects to complete the workforce reduction substantially by June 30 and anticipates recognizing about $2.6 million in total charges related to the reduction.

May 2024

Company: Marinus Pharmaceuticals

Headquarters: Radnor, Pennsylvania, United States

Number of People:  20% of workforce

Marinus Pharma has reduced its headcount by around 20% and deferred its investments in manufacturing intravenous ganaxolone. The biotech is also halting enrollment in the RAISE trial and another late-stage study in RSE called RAISE II.

May 2024

Company: Seelos Therapeutics

Headquarters: New York City, New York, United States

Number of People:   33% of Workforce

Seelos Therapeutics is cutting its workforce by about 33% and reducing employees’ working hours as it looks to shift its strategy toward mental health initiatives. The pharmaceutical company expects to save $800,000 in annualized costs from the headcount cut, and $1.6 million from the reduction in working hours..

May 2024

Company:   Kronos Bio

Head Quarters: San Mateo, California, United States

Number of People:  21% of the Workforce

Kronos Bio has made its second round of layoffs in five months, with 21% of the biotech’s workforce heading to the exits as the company focuses on a CDK9 inhibitor.

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  • Investment & Trading:

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    Hire talent from pharmaceutical, biotechnology, and life sciences companies that announced layoffs. 

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The Intellizence company intelligence platform is powered by cutting-edge Natural Language Processing and Machine Learning technologies that curate layoff data from multiple external sources. Every record is human-audited for data integrity.

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