October 2023 Layoff Tracker: Biotech & Pharma Sector Shifts

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In the ebb and flow of the Biotech and Pharma sectors, workforce adjustments reflect not only individual corporate strategies but also broader industry trends. October 2023 has been a poignant month for the sector as various companies recalibrated their operations amidst challenging market dynamics. This Layoff Tracker serves as a vital instrument, chronicling the difficult decisions made by organizations striving to navigate an increasingly complex healthcare landscape. It offers a meticulous record of job reductions, aiming to provide stakeholders with transparent insights into the evolving fabric of the industry. As we delve into the data, we bear witness to the resilience of the sector and its workforce, even in the face of formidable headwinds.

DateCompany NameNumber of LayoffsReason for Layoff
Oct. 30GalapagosApproximately 100Transfer of Jyseleca (filgotinib) to Alfasigma
Oct. 30Pfizer UnspecifiedFacility closure and reassignment
Oct. 26ElevateBio13%Workforce reduction despite recent financing
Oct. 24Amgen350After acquisition of Horizon Therapeutics
Oct. 24BrainStorm Cell Therapeutics30% of staffStrategic realignment following FDA decision
Oct. 24Idorsia PharmaceuticalsApproximately 475Sales of insomnia drug and cost-saving measures
Oct. 19Beam TherapeuticsApproximately 100Restructuring to fund company into 2026
Oct. 16Nkarta18Focus on later-stage programs and cost containment
Oct. 13PfizerLayoffs announced, number unclearCost-cutting initiative due to declining COVID-19 product sales
Oct. 11Sana Biotechnology29% of workforcePortfolio realignment and cash conservation
Oct. 9Biogen (Reata Pharmaceuticals)113After acquisition and cost-reduction program
Oct. 7Eikon TherapeuticsUnspecifiedEfforts to become more efficient and streamline
Oct. 5Atsena TherapeuticsUnspecifiedLayoffs for cash conservation and focus on trials
Oct. 5uniQure114Restructuring to focus on specific programs and cost savings
Oct. 3Kezar Life Sciences41% of workforceFocus on clinical trials and securing funds
Oct. 2Syros Pharmaceuticals35% of workforceFocus on specific clinical trials and leadership changes
October 2023 Layoff Tracker

Also Read: September Layoffs

As we conclude this monthly odyssey, our Layoff Tracker has encapsulated the bittersweet narrative of transition within the Biotech and Pharma sectors. The job cuts reported in October 2023 are not merely statistics; they symbolize the lives and communities undergoing realignment.

Don’t miss out on our upcoming tracker update. We will be posting it every month. To get notified as soon as it’s ready, subscribe to our website’s notification system now.

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