In a filing with the Securities and Exchange Commission, the firm disclosed the additional 7 per ent cut. Additionally, in a WARN document—a notification mandated by the Worker Adjustment and Retraining Notification Act in the case of mass layoffs—the corporation made the announcement. The 225 affected employees worldwide were informed of their layoffs by Wednesday, according to the SEC filing. A few Bay Area locals have already appeared on LinkedIn in search of new employment.
According to BioMarin's SEC filing, the layoffs are a part of a "organisational redesign" that includes steps to halt the development of a gene treatment for hypertrophic cardiomyopathy and cost reductions for the haemophilia medicine Roctavian.
According to the WARN, the company's headquarters in Novato and San Rafael were particularly severely affected, with 52 and 67 layoffs, respectively. The Los Angeles and Bay Aea regions split the remaining 128 California cuts.
Management-level workers will be severely impacted by the layoffs in the United States; the paper lists dozens of different director types in addition to four vice presidents and one senior vice president. Several positions in management as well as a few in science and engineering are included. A number of the dismissed workers were engaged in gene therapy research for haemophilia.
Although the WARN stated that some workers would be able to find "alternative positions" inside the organisation, it declared the layoffs permanent and stated that they will primarily take effect on November 1. The document stated, "In addition to the 60 days' notice, BioMarin has offered all employees severance pay, benefits continuation, and career transition services."
In a statement to SFGATE, BioMarin spokesperson Andrew Villani reaffirmed the company's commitment to supporting the laid-off employees. He claimed that the layoffs are a result of the company's continuous change. In December, Alexander Hardy, a former CEO of Genentech, succeeded Jean-Jacques Bienaimé as BioMarin's CEO. The company subsequently disclosed other leadership changes on August 21.
