DNA sequencing firm PacBio to lay off workers and shutter San Diego office

Pacific Biosciences is letting go of 190 employees, according to the company, as part of cost-cutting measures after disappointing sales of its DNA sequencers.

The company employed just under 800 employees at the start of the year, according to financial filings, and the cuts amount to almost a quarter of that number. The layoffs were outlined Monday in data that California companies are required to post when they intend to eliminate roles, a law known as the Worker Adjustment and Retraining Notification Act, or WARN.

“In response to ongoing headwinds that have affected our performance, we are making difficult but necessary changes to our organization,” a company spokesperson said in a statement to Endpoints News.

The company, better known as PacBio, seemed to be heading into the year with momentum. Sales were rising each quarter amid growing demand for its technology that reads lengthy stretches of genetic code, making the…
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