Biotech bloodbath? Nearly 100 companies announce layoffs in the first half of 2023, but job openings also surge

[ Stock]

The first half of 2023 brought job cuts to roughly 100 biotech and pharma companies. But while that may indicate an unstable employment landscape, it is not a universal trend.

Since March, appetite for life sciences talent has gathered steam. According to data from real-estate firm JLL, June 2023 had the sixth highest number of biopharma job openings of any month on record. Figures for that month were on par with peaks in 2022 and up 11% year-over-year. Job openings were lowest in February in 2023, but the volume of openings at that time was still substantially higher than most of the months from 2019 to 2020. Check out the data in the chart below.

Challenges and opportunities amidst biotech layoffs in 2023

The haves vs. have-nots. The industry is divided between the “haves and have-nots,” Michael Yee, a Jefferies biotech analyst told WSJ in February. While bi…

Read more
  • 0