San Diego, California-based Illumina, a biotechnology company that develops, manufactures, and markets integrated analytical systems for the sequencing, genotyping, and gene expression and proteomics markets, has announced a restructuring and cost-cutting initiative that will produce a 5% reduction in force.
The personnel re-alignment will impact approximately 450 employees, including 207 employees located in San Diego, California.
According to a company statement, “Over the past several months, the macroeconomic environment has continued to get more challenging, impacting our customers and our business, and we expect these conditions to continue into 2023. While we are confident in Illumina’s long-term growth trajectory, we need to reduce the growth rate of our spending as we navigate these challenges. We understand the impact these decisions have on the affected employees and their families, and we are committed to providing support to these employees in their transitions and treating them with respect and compassion.”
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?