AM I NEXT? NO LOVE AT PACIFIC BIOSCIENCES OF CALIFORNIA

Menlo Park, California-based Pacific Biosciences of California, a biosciences technology company that designs, develops, and manufactures advanced sequencing solutions to help scientists and clinical researchers resolve genetically complex problems, has announced a restructuring, including a cost-cutting initiative and the closure of its 74,000-square-foot San Diego, California facility.

The cost-cutting initiative and office closure will impact 195 employees, including 71 in the company's Menlo Park office and 108 in the San Diego office. The nearly 25% reduction in force affects nearly all functions within the company, including engineers, scientists, and management-level positions such as directors and vice president.

The scheduled separation date is June 28, 2024. To lower production costs, some consumables manufacturing for reagents and flow cells were previously transferred from San Diego to Menlo Park.

CEO Christian Henry noted, “We believe that the sales cycle increased primarily because of uncertainty surrounding the timing of funding for new capital equipment, particularly in the United States and China. There’s no doubt that PacBio and our industry are facing increasing headwinds this year. However, we remain incredibly optimistic about our business and the prospects for long-read sequencing.

"This swift and decisive action is a demonstration of our plan to achieve positive cash flows by the end of 2026, as originally outlined in our long-term guidance. We remain highly encouraged by PacBio’s long-term growth potential.”

According to a company spokesperson, "The company had to make difficult but necessary changes in response to headwinds that have affected our industry and our performance ... We considered every option and ultimately determined that this is the path we must take to achieve our mission and enable PacBio to drive 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 MOTIONAL

Boston, Massachusetts-based Motional, an autonomous vehicle company founded in March as a joint venture between automaker Hyundai Motor Group and auto supplier Aptiv, has announced a restructuring program that winding down operations at several locations and a 40% reduction in the company's workforce as the company pauses commercial operations and delaying plans to launch a robotaxi service using next-gen Hyundai Ioniq 5 robotaxis.

The personnel adjustment will impact 550 employees.

According to a company spokesperson, “We’ve updated our strategic plan to focus resources on the continued development and generalization of our core driverless technology, while de-emphasizing near-term commercial deployments and ancillary activities. This updated strategy requires a streamlining of our teams, resulting in a reduction in staff across all functions of the business. The team members leaving Motional have our deepest appreciation for their contributions to our goals.”

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 BAYER AG

Leverkusen, Germany-based Bayer, a multinational conglomerate specializing in pharmaceuticals, biotechnology, agricultural chemicals, and consumer healthcare products, has announced a major reduction in force since introducing its new "Dynamic Shared Ownership" operating model designed to “reduce hierarchies, eliminate bureaucracy, streamline structures and accelerate decision-making processes.”

The company had disclosed it made 1,500 job cuts in Q1, the first three months of 2024, with two-thirds being management roles. The company's has been reduced from fourteen positions to eight positions.

Additional layoffs are expected with "layoffs to be completed by the end of 2025 at the latest. We are adjusting our U.S. structure resulting in some positions being eliminated or redesigned, and a few new roles being created.”

CEO Bill Anderson noted, “Our senior leadership circle is already considerably smaller than it was a year ago. We’re consolidating roles, designing teams for more impact, and taking out layers. We’ve said from the beginning, our focus really isn’t on a head count number. Our focus is really relentless on making sure that every job in the company is oriented around the mission. That’s one of the reasons this is very different from a typical restructuring exercise, where the management decides what’s the number and then just sort of dispenses targets. We haven’t done that, and we’re not going to do that. People are just amazed at how much more they can get done when they have the authority with their colleagues to make the decisions and move.”

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?