Updated: Resilience to cut most staff, suspend operations at Massachusetts manufacturing plant
National Resilience, a biotech manufacturing startup funded with more than $2 billion since its launch in July 2020, has sent notices to employees that it will cut jobs at a Massachusetts manufacturing site that it bought just two years ago, citing reduced demand.
Multiple people whose LinkedIn profiles said they had been employees at the plant posted over the weekend saying they were told the site will shut down. In a follow-up interview, CEO Rahul Singhvi told Endpoints News that Resilience is keeping the facility in a “state of readiness” as it seeks new customer[s]. The company has put $150 million to $200 million into the site since acquiring it.
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