AM I NEXT? IS THE HANDWRITING ON THE WALL AT SYNEOS? HEALTH?

Morrisville, North Carolina-based Syneos Health, a biotechnology company offering contract research to assist companies with late-stage clinical trials, has announced that the company will be taken private by a consortium of investors including the notorious activist investor Elliott Investment Management. Elliot is known for extensive cost-cutting, personnel reductions, divestment of non-performing assets, large dividend transfers to shareholders, and management changes.

Elliot's hand in the operations is obvious as Syneos, earlier this year, began implementing cost management initiatives, including "right-sizing and realigning" its workforce while streamlining its organizational structure. The company also began evaluating its global facilities footprint.

According to Board Chairman John Dineen ...

"The Syneos Health Board of Directors unanimously determined that this all-cash transaction maximizes value for our shareholders and is in the best interests of the company and all stakeholders. We believe this transaction will enable Syneos Health to continue to accelerate its growth strategy, enhance customer delivery and evolve the organization toward a tech-enabled future."

The deal is expected to close in the second half of this year, pending approval by Syneos shareholders and other closing conditions. After the deal closes, Syneos will become a private company.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

AM I NEXT? NO LOVE AT TAKEDA PHARMACEUTICAL (07/02/24)

JULY 2, 2024 — 220 MORE EMPLOYEES TO FACE LAYOFFS

The restructuring continues as the company announced further job cuts that will impact 189 employees at its Cambridge headquarters and 31 at its Lexington site and occur between August 2024, and March 2025.

MAY 30, 2024 — 641 EMPLOYEES TARGETED IN MASSACHUSETTS

Continuing with its multiyear “efficiency program, the company is planning to lay off 641 employees, including 495 EMPLOYEES from its U.S. headquarters in Cambridge, Massachusetts, and 146 from its Lexington, Massachusetts facility.

The Board of Directors approved a significant multi-year program focused on organizational agility, spending efficiencies, and leveraging the company’s capabilities in data, digital, and technology (DD&T). The program aims to improve growth through continued advancement of Takeda’s Growth & Launch Products and progressing the company’s robust late-stage pipeline to deliver innovative therapies for patients while helping drive Core Operating Profit margin improvement target of low- to mid-30%.

The program will start in FY2024 and includes initiatives to optimize its workforce—simplifying some division structures—and rigorously prioritize its R&D pipeline while investing in DD&T to increase productivity and efficiency across the organization. Procurement-led initiatives will be centered on optimizing external spend with the goal of achieving cost savings and efficiencies in Takeda's supply chain and vendor management processes. Details and timing of specific actions within the framework of these broader initiatives will be decided in due course.”

MAY 30, 2023 — Original post…

Cambridge, Massachusetts-based Takeda Pharmaceutical Company, has announced that it will be stopping its early-stage programs in gene therapy, as well as rare blood diseases, to concentrate its resources on drugs that are closer to commercialization, including a midstage psoriasis drug that it bought from Nimbus Therapeutics.

The reduction in force will impact 186 employees, including research associates, research scientists, and clinical operations teams in four Cambridge, Massachusetts facilities, beginning in July 2023, and potentially taking place through March 2024.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?

MEMORIAL DAY 2023

THANK YOU FOR YOUR SERVICE!

Just a quick reminder to say a prayer of thanks for all of the brave soldiers who have made the ultimate sacrifice, were gravely wounded, suffered a disability, or found it hard to integrate back into a life where military-like discipline, skills, and behavior are alien to most Americans. Let us also not forget those missing in action and who remain unaccounted for, as well as those presently standing watch over our freedom and liberty.

Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?