Cleveland, Ohio-based Athersys, a clinical-stage biotechnology company developing novel and proprietary drug therapies, has announced a corporate restructuring program to reduce costs and prioritize spending on promising projects.
The restructuring anticipates the reduction in force will impact 70% of the current workforce, approximately 71 employees, commencing June 2022.
According to Athersys CEO, "The decision to realign our resources and restructure our organization was difficult but will help us focus on the critical programs that are expected to drive our future growth. We remain excited by the potential of MultiStem to benefit patients in stroke as well as other critical care areas. I’m confident that our revised strategy and focus, executed by the remaining committed team, put us on the right path for future opportunities. We are deeply grateful to the employees who are leaving Athersys for their commitment, hard work, and many contributions.
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?