AM I NEXT? NO LOVE AT AMYLYX

Cambridge, Massachsetts-based Amylyx, a biopharmaceutical company specializing in therapeutics for treating amyotrophic lateral sclerosis, has announced a major reduction in force following the voluntary withdrawal of Relyvrio from the marketplace due to its failure in a confirmatory clinical trial.

The reduction will impact up to 70% of the company's workforce or approximately 274 employees.

According to an SEC filing...

"On March 8, 2024, the Company announced topline results from PHOENIX, a global, 48-week, randomized, placebo-controlled Phase 3 clinical trial of AMX0035 (sodium phenylbutyrate and taurursodiol [also known as ursodoxicoltaurine]; RELYVRIO in the U.S., ALBRIOZA™ in Canada) in people living with amyotrophic lateral sclerosis (ALS). PHOENIX did not meet its primary endpoint of reaching statistical significance (p=0.667) as measured by change from baseline in the Revised Amyotrophic Lateral Sclerosis Functional Rating Scale (ALSFRS-R) total score at Week 48, nor was there statistical significance seen in secondary endpoints."

"On April 3, 2024, the board of directors of Amylyx Pharmaceuticals, Inc. (the “Company”) approved a restructuring plan designed to focus the Company’s resources on key clinical and preclinical programs (the “Restructuring Plan”). The Restructuring Plan includes a reduction in force which is expected to reduce the Company’s workforce by approximately 70% and a decrease in external financial commitments outside of its priority areas. The Company expects to substantially complete the Restructuring Plan by the end of the third quarter of 2024. As part of this Restructuring Plan, the Company expects to incur severance and severance-related charges of approximately $19 million."

"The Company is also evaluating its inventory purchase commitments and the impact its Restructuring Plan will have on inventory obsolescence. The Company may also incur other charges or cash expenditures not currently contemplated or that cannot be currently estimated due to events that may occur as a result of, or associated with, the Restructuring Plan."

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?

AM I NEXT? NO LOVE AT Sumitomo Pharma America

Marlborough, Massachusetts-based Sumitomo Pharma America, a pharmaceutical company, has announced a general restructuring of its U. S. subsidiary.

The reorganization and right-sizing will impact 400 employees.

According to a company statement...

Sumitomo Pharma Announces Reduction of Workforce and Other Rationalization Measures of the USA Consolidated Subsidiary

Sumitomo Pharma announced that in light of the current severe business environment and to achieve a recovery in the Group's performance, the Company has decided to implement rationalization measures including personnel reduction at its USA consolidated subsidiary, Sumitomo Pharma America, Inc.

1. Reasons for rationalization of personnel reductions, etc.

Sumitomo Pharma hereby announces that, as part of its efforts to improve management and organizational efficiency for future profit structure reform, it has decided to implement a reorganization of SMPA, with the aim of further streamlining its operations in the United States, thereby reducing the workforce at SMPA in accordance with the details described below.

2. Details of rationalization

For the purpose of restructuring to a leaner organization and optimizing the workforce in the North American business, the Company will rationalize the workforce by approximately 400 employees in total in March 2024. In the Sales & Marketing Division, an optimal organizational structure will be implemented for the continued expansion of revenue from the three key products.

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?

AM I NEXT? NO LOVE AT MODERNA (08/01/25)

AUGUST 1, 2025 — 500 EMPLOYEES TARGETED

One of the country’s major vaccine makers has announced a 10% reduction in its global workforce.

The reduction will impact approximately 500 employees.

CEO Stéphane Bancel memo…

Dear Team,

Today, I am sharing a difficult decision but necessary step forward: We are reducing the size of our workforce by approximately 10% globally. By the end of the year, we expect to be fewer than 5,000 colleagues strong.

This decision was not made lightly. It impacts teammates and friends who have dedicated themselves to our mission and who have helped build Moderna. I want to express, on behalf of the entire Executive Committee and on behalf of patients you have served, our deepest thanks for everything you have contributed.

Earlier this year, we committed to reducing our annual operating expenses by approximately $1.5 billion by 2027. We’ve made significant progress by scaling down R&D as respiratory trials conclude, renegotiating supplier agreements, and reducing manufacturing costs. Every effort was made to avoid affecting jobs. But today, reshaping our operating structure and aligning our cost structure to the realities of our business are essential to remain focused and financially disciplined, while continuing to invest in our science on the path to 2027.

I know this is a difficult moment for the company. We all feel a range of emotions whenever we have to say goodbye to colleagues.

For those leaving Moderna: We are so grateful for your contributions. You helped shape our culture and advance our mission. You will always be part of our story, and we are here to support you through this transition.

Our mission remains unchanged. With three approved products and the potential for up to eight more approvals in the next three years, the future of Moderna is bright. We are sharpening our focus, becoming leaner, and staying ambitious in oncology, rare diseases and latent viruses.

We will talk more about this at tomorrow’s Town Hall. Please bring your questions.

Thank you for everything you do for patients, for science and for each other.

With gratitude,

Stephane

MARCH 26, 2024 — Original post…

Cambridge, Massachusetts-based Moderna, a pharmaceutical and biotechnology company focusing on mRNA vaccines, has announced a reduction in force.

Responding to lowered demands for COVID-19 therapeutics, the company has laid off an unspecified number of manufacturing and quality-assurance employees in its Burlington, Massachusetts, and Norwood, Massachusetts, facilities. This comes as the company has completed the construction of a new mRNA manufacturing facility in Quebec, Canada.

According to a company spokesperson noting previously announced decisions to reduce COVID-related manufacturing expenditures, the layoffs are occurring in the company's manufacturing unit in response to resizing its COVID production work. We thank these individuals for their contributions to Moderna and to patients worldwide.”

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?