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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