AM I NEXT? NO LOVE AT TWIST BIOSCIENCE

South San Francisco-based Twist Bioscience, a biotechnology company that manufactures synthetic DNA and DNA products, has announced a major cost-cutting initiative that will see a 25% reduction in the company's workforce to "accelerate our path to profitability."

The reduction in force will impact 270 employees.

Twist CEO and Cofounder Emily Leproust noted, "The sales force will remain largely intact to drive top-line growth. We removed the duplication of synbio production across South San Francisco and Portland, significantly lowering our fixed cost structure. The new Oregon facility now produces all genes and gene fragments and most oligo pools. In addition, we resized the biopharma team to focus on revenue-generating partnerships, deprioritizing a majority of our internal assets. Throughout the organization, we streamlined teams, including R&D, to focus on programs where Twist has a clear competitive advantage and to selectively deploy our platform in areas where we see the greatest potential for long-term value creation."

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 VROOM (01/22/24)

JANUARY 22, 2024 — 800 EMPLOYEES GONE WITH BUSINESS MODEL CHANGES

The company has announced that it would wind down its used-vehicle e-commerce business, stop transactions on its website for buying and selling used cars, sell its current inventory, and cut most of the associated staff.

Approximately 800 employees are impacted.

The company said it would cut about 800 employees.

The decision was driven by the company’s inability to raise capital to fund its commerce operations and problems with its credit lines.

MAY 12, 2023 — Original post…

Houston, Texas-based Vroom, a used car retailer and e-commerce platform that lets consumers buy, sell, and finance cars online, has announced an organizational restructuring with an 11% reduction in force.

The restructuring will impact 120 employees.

According to an SEC 8-K filing, "As part of Vroom, Inc.’s ongoing reexamination of all facets of our business, we have implemented an organizational restructuring that includes a reduction in force across the Vroom organization as of April 26, 2023. We reduced Vroom’s headcount by approximately 120 employees, or approximately 11% of Vroom employees, excluding United Auto Credit Corporation or approximately 7% measured across the combined Company.”

A company spokesperson noted, "The decision to reduce staff this week, while difficult, is consistent with our commitment to our long-term roadmap and objectives for the year to prioritize unit economics and growth, improve our customer experience, reduce cost per unit and maximize liquidity."

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 AMERIMARK DIRECT

Cleveland, Ohio-based AmeriMark Direct, an online and direct marketing catalog retailer, has announced that it has filed for Chapter 11 proceedings in the U.S. Bankruptcy Court in Wilmington, Delaware, as it seeks a buyer for its assets.

The company will permanently close its facilities in Middleburg Heights, Ohio, and in Berea, Ohio. The closures will impact 223 employees, 151 employees at the Middleburg Heights facility, and 72 employees at the Berea facility. All layoffs are expected to be completed by June 6, 2023.

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?