Precision medicine biotech Relay Therapeutics is shedding about 10% of its workforce in efforts to streamline the organization.
About 30 people will be impacted by the workforce reduction, a Relay spokesperson told Fierce Biotech in an emailed statement Oct. 3. The cuts follow a prior round of layoffs in July that included less than 5% of employees at the biotech, which staffed around 300 people at the time.
“Over the course of 2024, we have been streamlining our research organization through a series of changes,” the company spokesperson said. The process is designed to improve efficiency and expected to collectively save the biotech about $50 million a year, according to the spokesperson.
The 10% layoffs, first reported by Endpoints News, are “the last of these changes,” the spokesperson told Fierce.
https://www.fiercebiotech.com/biotech/relay-cuts-more-staff-efforts-save-50m-year