Vertex Pharmaceuticals has laid off 78 employees from Crinetics Pharmaceuticals following its $10 billion acquisition. These job cuts are tied to Crinetics' global headquarters in San Diego and will take effect in January. The company stated that these reductions are part of the integration process, identifying roles that will not continue in the combined organization. Vertex is committed to supporting the impacted employees with severance and outplacement services. This move follows Vertex's completion of the Crinetics acquisition on September 1.
San Diego, California
https://www.fiercepharma.com/pharma/vertex-lays-78-crinetics-staffers-amid-10b-integration