Gene-sequencing giant Illumina is laying off 96 employees from its San Diego headquarters, according to paperwork filed with the state.
This workforce reduction comes at a time when Illumina is contending with geopolitics influencing its market, increased competition and a declining stock price, which is down about 35% year to date.
The company announced the layoffs last month in a WARN (Worker Adjustment and Retraining Notification) letter it sent to the state. The layoffs impact a variety of departments in the organization including finance, many senior scientists, engineers and some directors.
The layoffs will take effect on April 14, May 16 and Aug. 15, according to the WARN letter.
https://www.msn.com/en-us/money/companies/illumina-cuts-workforce-at-san-diego-headquarters/ar-AA1Abi52