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Biotech Layoffs Hit Hardest In Discovery

As the financing drought continues and their cash supplies dwindle, biotechs are resorting to big layoffs to drastically cut back on spending (See exhibit 1). But however rigorous a company's turnaround effort, the target of the layoffs always seems to be discovery research, with the remaining employees focusing on clinical programs.

As the financing drought continues and their cash supplies dwindle, biotechs are resorting to big layoffs to drastically cut back on spending. (See Exhibit 1.)

Some of these layoffs look to be part of fairly systematic restructuring processes. For example, at BioTransplant Inc. ,...

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