I have heard a lot of layoff news for Biotech companies lately, has anyone been affected or have any insights?

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My company had layoffs this past week. We lost 11% of our staff. I was not impacted, however, the morale is at an all-time low and many people (myself included) are looking to leave

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A lot of companies have also instituted hiring freezes as well. The expectation is that there will be a recession hitting soon if we're not already in one.

My company cut 80% of staff (RIF, not layoffs) and furloughed a lot of execs. They were a small lab before COVID and quadrupled in size. Didn’t know how to pivot once testing wasn’t a huge thing.

Most companies in the San Francisco Area are cutting staff as soon as they get to the clinical trial stage. So basically you help them develop a product and when it comes to testing they take resources from salaries and push them to trial related activities. Be careful out there! Ask about company performance in an interview check share price etc.

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Morning! Being laid off sux, I been down this road 5x in my career it never bets easier.

Dust off contacts and make your rounds
* if you’re in a good position to take time off do some, seems we all need a mental break anyway

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