NOVEMBER 17, 2024 — 104 CORPORATE EMPLOYEES
The company has announced an initiative to prioritize resources that will result, among other things, the impending office closures in Seattle, Washington, and Philadelphia, Philadephia, and the termination of 104 headquarters, including senior-level executives, employees located in Foster City, California, between March 14, 2025, and April 30, 2025.
A company spokesperson noted, “Gilead is prioritizing resources as we prepare for six potential new launches by the end of 2030. Our business is performing well, and our clinical momentum continues to accelerate. We are also making changes to further align resources with our long-term strategic goals. This includes relocating some teams and closing some offices.”
MARCH 9, 2022 — 114 EMPLOYEES IN NEW JERSEY
The company has announced that it will be laying off 114 workers located at the former Immunomedics headquarters located in Morris Plains, New Jersey. The layoffs will be staged in April, September, and December of 2022.
Administrative operations will be transferred to an as-yet-unannounced site in New Jersey.
APRIL 22, 2019 — Original post
Foster City, California-based biotechnology firm Gilead Sciences has announced that they are planning to reduce their sales force by 20%, approximately 150 long-time salespeople in their cardiopulmonary division. The decision was driven by two of the company’s profitable drugs, Ranexa and Letairis, which lost patent protection.
According to a company spokesperson, “With the anticipated entry of generic versions of Letairis and Ranexa, Gilead made the decision to lay off about 150 cardiopulmonary sales representatives. This decision was put into motion almost two years ago, as the organization began to plan for the entry of generics. Gilead has worked with the impacted employees to provide ample notice and to help them plan for their transitions. The efforts and dedication of our cardiopulmonary employees have been deeply appreciated.”
It appears that Gilead’s new CEO, Roche Pharmaceuticals veteran, Daniel O’Day, appears to be unfairly targeted for a decision that was made two years ago. There is little doubt that the company faces financial and legal challenges in the near future which begs the question, is this employee reduction sufficient to mitigate investor dissatisfaction and becoming a target for activist investors?
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. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere ... are you now wondering, Am I Next?