Layoffs and Shutdowns Hit Biotech Industry in U-Turn

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Tough times have come for once-highflying biotech startups, which have been laying off thousands of workers and shutting down after years of heady growth

The recent headlines about tech layoffs don’t seem to match broader economic indicators, which show a strong job market and a historically low unemployment rate.

WSJ’s Gunjan Banerji explains the disconnect. Illustration: Ali LarkinFor a decade, the companies flourished, flush with cash, and fueled by excitement over new technologies such as cell therapy,

 

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Is this the work of economic rationalists?

This will have real life consequences over the next 5-10yrs

Yeah but Joey says things have never been better under his leadership. He just can’t help himself. We should put him in a room with Santos & have a liar contest. It would be a blockbuster media event.

Because you can't earn money from the new crown, right?

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