2024’s layoff woes continue in Q2

Just as there’s been little relief from the intense heat scorching much of the world this summer, the biotech industry continues to be burned by layoffs. According to the Fierce Biotech Layoff Tracker, there were 38 layoff announcements in the second quarter of 2024, compared to 36 in the same period during 2023.

The trend has remained consistent for this quarter over the past three years, with 30 reported in the second quarter of 2022. 

While this is lower than the 57 known layoffs announced last quarter, the number for the entire first half has increased more than 50% compared to the first half of 2022. This year is on track to top the 187 total layoffs tracked by Fierce Biotech in 2023.

The total number of known employees affected was also higher this quarter compared to last, with at least 7,616 workers impacted. The first quarter saw…
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