AM I NEXT? NO LOVE AT RECURSION PHARMACEUTICALS

Salt Lake City, Utah-based, Recursion Pharmaceuticals, a clinical-stage biotechnology company using artificial intelligence to discover new drug candidates, has announced a realignment of its research projects and a 20% reduction in force.

The reduction will impact approximately 160 employees companywide as the company deprioritizes three clinical-stage programs and focuses on oncology and rare disease projects..

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 terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT ARVINAS

New Haven, Connecticut-based Arvinas, a clinical-stage biotechnology company focused on developing targeted protein-based therapeutics, has announced a restructuring of their product line and the removal of two Phase 3 trials from their development program.

The restructuring will impact approximately one-third of its workforce across the company to streamline operations across the organization and enable the efficient progression of the Company’s portfolio.

The reduction will impact approximately 131 employees and is planned to be completed in the second quarter of 2025.

According to CEO Dr. John Houston, “We continuously evaluate and refine our long-term strategy, and recent challenges in the capital markets have required us to expeditiously evaluate our business priorities and capital needs. Although difficult, the workforce reduction is a prudent decision that we believe will right-size the Company for future success. I want to thank all the talented employees who were directly impacted by this decision. I’m proud of the progress we have made together, and want to acknowledge their contributions, and commitment, to discovering and developing new treatment options for patients with serious diseases.”

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 terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT AMPLIFYBIO

West Jefferson, Ohio-based AmplifyBio, a biotechnology company specializing in customizable preclinical contract development and manufacturing organization, has announced that it has closed and ceased all operations.

The closure impacted 212 employees.

According to the company, "This decision comes after months of tireless efforts by the AmplifyBio leadership team, investors, and other key stakeholders to explore and exhaust all investment and acquisition possibilities. It is with deep sadness and gratitude that we announce the closure of AmplifyBio’s operations. Like any startup, AmplifyBio's growth strategy relied on meeting revenue targets and a supportive investor climate. At the time AmplifyBio launched, market conditions were favorable for early-phase drug development. That market sector has experienced a significant shift over the last couple of years, leading to a scarcity of investor financing for early-stage biotech companies, which greatly impacted the ability to grow."

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 terrible 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. While many employees can read the writing on the wall, why do most assume it’s targeted at someone else? Are you now wondering, Am I Next?