Reasons behind the recent mass layoffs in biotech

<p>Over 115 biotechnology companies have announced job cuts this year, which is likely to surpass the number from last year. This trend of layoffs is not new, but it&rsquo;s concerning because it suggests tougher times ahead for the pharmaceutical industry, which is already going through significant changes. This situation should serve as a strong signal to pharmaceutical executives that they need to change the way they do business, and they need to do it urgently.</p> <p>In the past 20 years, the biopharmaceutical field has seen many job losses, and it seems like these job cuts will happen even faster now. One example is Biogen, a company planning to let go of about 1,000 employees, which is about 11% of their workforce, over the next few years. This is part of their &ldquo;Fit for Growth&rdquo; program. The CEO of Biogen, Christopher A. Viehbacher, said that they&rsquo;re making these changes to focus more on areas that create the most value for their business.</p> <p><a href="https://22river.medium.com/reasons-behind-the-recent-mass-layoffs-in-biotech-2caaa5925c4e"><strong>Click Here</strong></a></p>