Seattle, Washington-based Adaptive Biotechnologies, a developer of immune system testing equipment and protocols, has announced a major twelve-percent reduction in its workforce which will impact approximately 100 employees,
According to a company spokesperson, "Adaptive is undergoing a reorganization to focus on two key business areas, minimal residual disease (MRD) and immune medicine. As part of this process, we are deprioritizing projects and programs that are no longer aligned with the goals of the two business areas. We have made the hard decision to streamline our workforce. Given current market conditions affecting Adaptive and the biotech industry more broadly, we needed to ensure we had enough flexibility to meet our medium- to long-terms goals."
"We are sad to being parting ways with our team members but believe these changes will set us up for success and growth. Our team is doing everything possible to support their transition, including a comprehensive exit package. The Seattle biotech market is intimate and our executives and remaining employees will be doing everything they can to help our departing colleagues network.”
CEO Chad Robins noted, "Ensuring we have the capital and the resources to fuel our growth while navigating turbulent market conditions has resulted in the need to make hard choices. After a comprehensive review, it became clear that we had to cut operating expenses, deprioritize certain projects and programs, and make significant adjustments to expenditures on capital projects.
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. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?