San Francisco, California-based Vir Biotechnology, an immunology company focused on combining cutting-edge technologies to treat and prevent infectious diseases and other serious conditions, has announced a major restructuring and a product line pivot. The company discontinued the bulk of its virology work and pivoted to cancer research in an exclusive licensing deal with Sanofi.
The reduction in force impacts 25% of the company's research staff, or 114 employees, including senior members of management, scientists, engineers, and support staff. The layoffs will be mostly complete by October 2024.
According to CEO Marianne De Backer, “This decision was not taken lightly, yet it is essential to ensure that our resources are aligned with our evolving strategy and that Vir is positioned for sustainable growth and long-term success. In addition, we are taking decisive steps to strategically restructure our organization and prioritize our resources to focus on the highest value near-term opportunities. These key strategic decisions will enable us to drive sustainable growth and accelerate patient impact as we advance in our mission of powering the immune system to transform lives.”
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 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. 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?