Gilead Sciences announced it will lay off 108 workers from its Redwood City offices, following a previous round of layoffs just seven months ago. The layoffs will affect multiple departments, including upper-level leadership, with a transition period extending until 2027. This decision follows Gilead’s recent $7.8 billion acquisition of Arcellx, causing the company to integrate operations and refocus on its core business. The biotech industry in the Bay Area continues to face challenges, including layoffs and slashed drug pipelines.
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Link to original article source: https://finance.yahoo.com/sectors/healthcare/articles/bay-area-biotech-takes-another-215518215.html
