End-of-Year Restructuring Means Layoffs for These Companies

It’s not unusual for biopharma companies to end the year with a restructuring that includes job cuts. The most recent was Rigel Pharmaceuticals, which announced November 15 that it was cutting 16% of its workforce, most in early research.

Based in South San Francisco, Rigel has 195 staffers and plans to cut 31 positions by the end of the year and take a fourth-quarter charge of $3.3 million for severance pay and modifying stock options. The company said the plan will save $11 million to $15 million each year beginning in 2022. But that is only one of several announcements that started in the fourth quarter.