Layoffs Hit Biotech Hubs Hard
In labs from Boston’s Kendall Square to San Diego’s Torrey Pines Mesa, a wave of biotech layoffs is rippling through the workforce. What began as isolated cost-cutting at a few startups has swelled into a nationwide trend. In just the last quarter of 2024, over 6,000 biopharma employees were let go– part of an estimated 24,000 industry layoffs across 2024. Major biotech hubs are bearing the brunt. Massachusetts alone saw nearly 4,000 biotech jobs cut in 2023, and the new year has brought only a slight respite. “Hiring remains soft,” notes a recent Boston Globe report,
