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Biotech layoffs gather pace as industry downturn persists

April 10, 2023


At least five dozen biotechnology companies have laid off employees so far this year in a sector-wide contraction that has reached large and small drugmakers alike.

Brought on by enduring funding challenges, the consolidation has resulted in roughly 3,200 biotech employees losing their jobs between Jan. 1 and early April, according to data collected by BioPharma Dive.

While the workforce reductions aren’t a new development — more than 100 biotech companies conducted layoffs last year — the pace of announcements has accelerated, suggesting the industry hasn’t recovered from 2022’s market downturn.

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