Recursion lays off 20% of staff in wake of pipeline cutbacks

Recursion Pharmaceuticals is laying off a fifth of its workforce in connection with a previously announced streamlining of the AI biotech’s pipeline.

Shrinking the Salt Lake City-based company’s workforce by 20% is set to cost Recursion around $11 million in severance fees and related costs, the company explained in a June 10 Securities and Exchange Commission filing.