Stamford, Connecticut-based Sema4, a patient-centered health intelligence company providing data-driven clinical and genomic data insights to inform healthcare decisions, has announced its continued restructuring, leadership changes, and a reduction in headcount.
The company will exit its somatic tumor testing business, including the planned closure of the clinical laboratory in Branford, Connecticut, effective December 31, 2022.
The company will reduce its headcount by eliminating approximately 250 positions, representing approximately 13% of its workforce. When combined with the first round of layoffs earlier this year, the company has eliminated approximately 30% of positions from its legacy Sema4 business.
The company will relocate its hereditary cancer testing operations from Stamford, Connecticut, to Gaithersburg, Maryland, at the end of the third quarter of 2022.
Founder Eric Schadt is resigning as President and Chief Research & Development Officer, as well as his position as Director of the company.
According to a company spokesperson, “Our mission is to unlock insights from data, leading to healthier lives. To do that, we’re making pivotal decisions to strengthen our foundation and finances. Since May, our new management team has been assessing the overall operating model, looking at the profitability profile of each line of business. We are clear-eyed about the opportunities we have today to make a positive impact on more patients by focusing on our strengths and in areas where we have operational scale, competitive advantage, and scientific leadership. As we look forward, Sema4 will have a dramatically improved cost structure and a more targeted commercial effort supported by an optimized product development strategy. This will enable us to continue to accelerate the use of genomics and leverage clinical data to enhance the standard of care through the more extensive use of precision medicine.”
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?