Thread regarding Genentech Inc. layoffs

140+ peeps in South SF are being cut our third round of cuts since 4/2024, the total is almost 700 people over 15 months. This round is hitting engineers, directors, AI teams, facilities staff, and clinical supply folks, many dpts. Execs are tagging this as "strategic workforce planning" rather than cost cutting, Roche will be happy wiht all the money saved... On top of $16B in profit last year...There will be severance pay, benefits (continuation), and job placement help, it's all standard... Biotech is hurting right now across the board.