AM I NEXT? NO LOVE AT VERILY LIFE SCIENCES

San Francisco, California-based Verily Life Sciences, the life sciences research subsidiary of Alphabet, has announced a restructuring to eliminate some programs and streamline operations that will result in a reduction of 15% of its workforce.

Approximately 200+ employees will be impacted.

Verily’s chief executive officer Stephen Gillett noted, “We are making changes that refine our strategy, prioritize our product portfolio and simplify our operating model. We will advance fewer initiatives with greater resources.”

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. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT FATE THERAPEUTICS

San Diego, California-based Fate Therapeutics, a clinical-stage biopharmaceutical company specializing in the development of cellular immunotherapies for cancer patients, has announced a product realignment and reduction in force after the cancellation of a collaboration agreement with Janssen Biotech.

The personnel re-alignment will impact approximately 220 employees.

According to President and Chief Executive Officer Scott Wolchko, “We are disappointed that we were not able to align with Janssen on their proposal for continuation of our collaboration. As a consequence, in keeping with the Company’s commitment to developing disruptive product candidates, programs, and technologies with the potential to address large, unmet clinical needs, we have prioritized our clinical programs and substantially reduced operating expenses, including taking the difficult and painful step of reducing our workforce, to ensure that we have a three-year cash runway."

"We are greatly saddened to move in this direction as our employees have continually demonstrated the highest level of dedication and commitment in pioneering iPSC-derived cell therapy for patients with cancer. I want to extend my deepest appreciation to all of our employees for their tremendous efforts and wish those employees who will be departing great success in the future.”

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. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT SYNTHEGO

Menlo Park, California-based Synthego, a bioltechnology company specializing in providing engineered cell libraries to researchers, has announced a 20% reduction in its workforce.

The reduction in force will impact 105 employees.

According to a company spokesperson, "After a comprehensive review of our business, we have made a number of difficult but necessary organizational changes to best position the company for long-term success in the current environment."

"We sincerely regret the impact that this has on our employees and their families and owe them a debt of gratitude for their valuable contributions to the company. We are confident that the changes we have made will put us in a position to both navigate the difficult environment in the near term and continue to enable vital clinical research and development that advances accessible cell and gene therapies."

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. Are you now wondering, Am I Next?