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Biotech / Medical : Immunomedics (IMMU) - moderated
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From: Olecranon4/3/2025 2:51:45 PM
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jhcimmu

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This caught my attention b/c of Gilead, but it probably speaks to the biotech sector as a whole. Is this the RFK Jr. effect?
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Biotech companies shed hundreds of Bay Area jobs in fresh layoffs

Tribune Content Agency 2025-04-01T23:59:00-04:00
Life sciences companies have decided to chop hundreds of Bay Area jobs in a fresh wave of layoffs that hint at ongoing turbulence in the region’s biotech sector, state labor agency posts show.

All told, the biotech companies have revealed their intentions to slash 310 Bay Area jobs, according to official notices the companies sent to the state Employment Development Department.

The layoffs add to what is shaping up to be a shaky early 2025 for the Bay Area job market and advanced technology industry.

Here are the details of some of the anticipated job cuts that life sciences companies have disclosed to the state EDD:

— Gilead Sciences (GILD.NaE), a biopharmaceutical company, 149 layoffs in Foster City. The staff reductions are slated to occur on May 27.

— Roche Molecular Systems, a unit of pharmaceutical titan Roche, 108 job cuts in Santa Clara. The layoffs are scheduled for May 28.

— Nkarta (NKTX.NaE), a biotech company, 53 job cuts in South San Francisco. The downsizing occurred on March 31.

The job cuts were all described as permanent in each of the three instances, according to the WARN notices posted by the state EDD. The employees involved are not part of a union and do not have the right to displace workers with less seniority.
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