Pharmaceutical industry layoffs continue: Bristol Myers Squibb, Novavax and Takeda the latest to announces cuts

[jozefmicic/Adobe Stock]

The pharma industry has shed a significant number of jobs in 2023. The most recent company to announce cuts is Bristol Myers Squibb, which laid off 48 workers in Princeton, New Jersey. Other companies making cuts include Takeda, cutting more than 180 jobs, and Novavax, letting go of one-quarter of its workforce.

Other companies that have announced workforce reductions in the first quarter of the year include Grifols, which is cutting 2,300 workers. Neoleukin Therapeutics in Seattle went so far to cut  70% of their workforce. Other companies such as Amgen and Thermo Fisher also experienced layoffs in the first few months of the year, with 750 and 230 job cuts respectively.

Notably, some companies made even more drastic cuts, with Cyteir Therapeutics, Jounce Therapeutics, Instil Bio, Frequency Therapeutics and TCR² Therapeutics all reducing their workforces by more than half. Ari…

Read more
  • 0