Exact Sciences cuts about 5% of workforce, including in Wisconsin

MADISON, Wis. (WMTV) – Precise Sciences confirmed about 350 layoffs Monday, noting that about two-thirds of the roles are in Wisconsin.

A spokesperson for the corporate, Stephanie Spanos, defined that the eliminations had been at varied ranges of the group and throughout divisions.

In an announcement, Precise Sciences mentioned the reductions make up roughly 5% of its complete workforce.

“The impression of inflation, market volatility, and prioritization of the packages that may have the best impression on enhancing most cancers care have resulted in the necessity to allocate our workforce and sources extra carefully to our highest precedence packages. We’ve additionally taken steps to simplify our organizational construction to enhance communication and operational efficiencies.”

The assertion famous that workers affected will obtain severance packages, outplacement companies and the prospect to use for certainly one of 200 open roles all through the nation.

Spanos added that these eliminations are on high of those introduced in Could, the place round 230 workers had been laid off. About 50 of these positions had been primarily based in Wisconsin.

Full assertion from Precise Sciences:

Precise Sciences is dedicated to enhancing the lives of individuals globally via modern checks to assist detect most cancers earlier and supply steerage for profitable therapy. For a few years, our firm has targeted on investing to help speedy progress, each organically and thru acquisition, and we’ve got made nice strides in reaching this mission. The impression of inflation, market volatility, and prioritization of the packages that may have the best impression on enhancing most cancers care have resulted in the necessity to allocate our workforce and sources extra carefully to our highest precedence packages. We’ve additionally taken steps to simplify our organizational construction to enhance communication and operational efficiencies. This can end in a discount of roughly 5% of our workforce. Impacted staff members will probably be supported with empathy and respect via the transition and can obtain complete severance packages, outplacement companies, and the chance to use for one of many 200 open roles throughout the corporate. We stay deeply dedicated to Madison and excited to be a part of its future for years to come back.

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