Il­lu­mi­na be­comes the lat­est domi­no in lay­offs trend, cut­ting around 5% of its work­force

The third quar­ter blues are hit­ting bio­phar­ma hard as the past weeks have seen both big phar­mas and small­er biotechs ax­ing por­tions of their staff, and now an­oth­er big name is fol­low­ing that trend.

Ac­cord­ing to an SEC fil­ing, Il­lu­mi­na has start­ed a “head­count re­duc­tion” of around 5% of its glob­al staff, which num­bers close to 10,000 em­ploy­ees. In the fil­ing, Il­lu­mi­na states that it is “proac­tive­ly re­align­ing Core Il­lu­mi­na op­er­at­ing ex­pens­es” to bet­ter re­flect the cur­rent eco­nom­ic en­vi­ron­ment while fo­cus­ing on in­no­va­tion and longer-term growth.

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