AM I NEXT? NO LOVE AT SUTRO BIOPHARMA

San Francisco, California-based Sutro Biopharma, a biotechnology company researching anti-cancer drugs, has announced the departure of three top executives, the closure of its San Carlos, California manufacturing facility by the end of 2025, and a reduction in force.

The personnel adjustment will impact approximately half the company's workforce, about 10 employees. The decision was driven by large losses and the failure to obtain approval for the commercial sale of its products.

According to an SEC filing...

"Sutro Biopharma, Inc. today announced the completion of a strategic portfolio review resulting in the prioritization of its three wholly-owned preclinical programs in its next-generation ADC pipeline."

"Additionally, the Company announced that it is deprioritizing additional investment into development of luvelta across all indications and is reducing headcount by nearly 50 percent. The Company will continue to explore global out-licensing opportunities for luvelta, as Sutro still believes in its potential to provide significant benefit to patients with unmet need. Further, given Sutro’s significant progress in fully externalizing its cell-free manufacturing to scale, the Company intends to exit its internal GMP manufacturing facility by year-end."

"The Company also announced that Bill Newell and Sutro’s Board of Directors have mutually agreed that it is the right time to transition leadership. Jane Chung, President and Chief Operating Officer, will assume the responsibilities of Chief Executive Officer and Board member from Mr. Newell, effective today. Mr. Newell will continue to be available at the Company’s request in an advisory capacity through the transition."

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT THE WONDERFUL COMPANY

Los Angeles, California-based The Wonderful Company, an agricultural holding company that grows, harvests, bottles, packages, and markets a diverse range of products, including fruits, nuts, flowers, water, wines, and juices, has announced a significant reduction in its workforce at its Wasco, California grapevine production facility as it withdraws from grapevine rootstock production. While Wonderful produces wine, it markets table grape rootstock instead of growing the actual grapes which it leaves to others.

The decision to wind down operations will impact hundreds of employees. All but a skeleton crew will retain their jobs, and approximately 15 employees out of 500 will remain.

Wonderful Orchards President Rob Yraceburu noted, "A business decision like this is unfortunate and painful. We care deeply about our employees, including those from our farm labor contractors, many of whom have been part of our family season after season. This business wind-down is different than our usual seasonal layoffs, and we are even more committed to helping every employee as much as possible."

It should be noted that the company is in a major battle with the United Farm Workers over operations at the Wasco facility. The company denies that the labor issue drove the decision in a declining marketplace.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT MVM

Ashburn, Virginia-based MVM, a private security contractor providing security contractors, staffing, training, translation and related services to government clients, has announced a reduction in force due to the termination of the company’s contract with the U.S. Office of Refugee Resettlement to provide logistics for unaccompanied immigrant children.

The contract loss will impact 379 employees who work in immigration-related jobs along the U.S.-Mexico border, including 247 workers in El Paso, Texas, and 132 employees in McAllen, Texas.

According to a company spokesperson, “MVM did not receive the expected extension to the contract. We would have liked to have given you more advance notice of this action but were unable to do so due to these circumstances.”

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something terrible hasn't happened yet doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?