95% of my department was cut, the other 5% were told they have a future layoff date. Way to keep moral up Invitae.
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If you look on LinkedIn it seems that many people just were sent home on Monday and that was their last day... I was laid off from Invitae last year and I was told at 4.30pm on a Monday and it was 'with immediate effect' but they did keep paying me for the rest of that month + 1 day (so I got health insurance for another month)
"The restructuring is expected to be completed by the end of June 2023. Though expected to cost Invitae between $75 million to $100 million in cash to carry out—plus additional non-cash costs, which weren’t specified by the company—the efforts are ultimately forecasted to save Invitae around $326 million per year."
source: https://www.fiercebiotech.com/medtech/invitae-lays-more-1000-employees-slims-international-footprint-cost-cutting-restructuring
There were 5 dates ranging up to 2023...
Or is it an ongoing thing?