(KRON) — Gilead Sciences Inc., a biopharmaceutical company based in San Mateo County, is expected to permanently cut 108 Bay Area positions.
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The layoffs will impact its Redwood City location and are effective June 30, according to an April 30 WARN notice.
Gilead provided a statement to KRON4, which reads, “As part of the integration following the close of the Arcellx transaction, we’ve begun communicating with affected employees in accordance with required processes. These decisions are never taken lightly, and our focus is on supporting employees through this transition with transparency and respect.”
The news follows reports that San Francisco-based cryptocurrency company Coinbase is cutting hundreds of jobs, according to The New York Times.