Exelixis will shutter its facility in King of Prussia, Pennsylvania, and is laying off 130 employees companywide as the cancer specialist rightsizes its operations after a pandemic-era boom in hiring. While a company statement provided to BioSpace did not give an exact breakdown of where affected staffers are located, 71 people at the biotech’s Alameda, California, headquarters are being let go effective Oct. 27. In addition, Fierce Biotech has reported that 33 remote employees who report to California-based managers are being cut. According to the statement, Exelixis hired a significant number of employees—including many remote workers—during the pandemic and post-pandemic period to meet business needs. The biotech is now reorganizing its structure to focus largely on its Alameda operations. It expects to reopen many of the affected positions as new roles at its headquarters.
All entries for: Exelixis
Exelixis
Negative Outlook
Alameda, CA
1,001-5,000 employees
• General Impact: “Although public rulemaking and related agency guidance for the Inflation Reduction Act has yet to be issued and it is uncertain what impact the Inflation Reduction Act will ultimately have upon our business, over time the Inflation Reduction Act could reduce the revenues we are able to collect from sales of our products and increase our government discount and rebate liabilities” • Uncertainty: “In addition, we cannot know the final form or timing of any other legislative, regulatory and/or administrative measures, and some of these pending and enacted legislative proposals or executive rulemaking, if implemented without successful legal challenges, would likely have a significant and far-reaching impact on the biopharmaceutical industry and therefore also likely have a material adverse impact on our business, financial condition and results of operations”