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Submission: On August 21 via manual from IN — Scanned from DE
Effective URL: https://www.mddionline.com/business/illuminas-contrasting-announcements-send-mixed-messages?ADTRK=InformaMarkets&utm_source...
Submission: On August 21 via manual from IN — Scanned from DE
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We use cookies to improve your website experience. To learn about our use of cookies and how you can manage your cookie settings, please see our Cookie Policy. By continuing to use the website, you consent to our use of cookies. × Informa MD+DI Online is part of the Informa Markets Division of Informa PLC * Informa PLC * About us * Investor relations * Talent This site is operated by a business or businesses owned by Informa PLC and all copyright resides with them. Informa PLC's registered office is 5 Howick Place, London SW1P 1WG. Registered in England and Wales. Number 8860726. * Supplier Directory * Events * Subscribe * Advertise * About * More * Search * Subscribe * Log In * * Subscribe * Log In * Markets * Cardiovascular * Diabetes * Drug-Delivery * General Hospital * IVD * Neurological * Orthopedic * Radiological * Surgical See All Markets » * Product Development * Components * Design & Engineering * Human Factors * Materials * R&D See All Product Development » * Manufacturing * Automation * Contract Manufacturing * Equipment * Inspection * Manufacturing Processes * Packaging * Sterilization See All Manufacturing » * Regulatory & Quality * Regulations * Legal * QA/QC * Standards * Testing See All Regulatory & Quality » * Technologies * 3D Printing * Artificial Intelligence * Augmented/Virtual Reality * Digital Health * Implants * Robotics See All Technologies » * Qmed * Resources * Webinars * White Papers * Supplier News * Industry Reports Search Qmed: Find trusted partners on Qmed, the world's only directory of pre-qualified suppliers to the medical device and in vitro diagnostics industry. ... read more X HomeBusinessIllumina’s Contrasting Announcements Send Mixed Messages Recent Medtech in a Minute: Integra's FDA Warning Letter, and More Aug 21, 2023 Heart of Plastic, It's (Not) Fantastic Aug 21, 2023 How to Build a Better Peristaltic Pump Aug 18, 2023 Illumina’s Contrasting Announcements Send Mixed Messages Aug 18, 2023 Whitney Medical Solutions Aim to Make Handheld Devices Safer in the OR & Other Supplier News Aug 17, 2023 Microbot Signs Manufacturing Agreement with B.Y. Medimor Aug 17, 2023 Life After Zimmer Biomet: Why ZimVie Has The "It" Factor Aug 17, 2023 Sponsored Content Is there Zinc in Your Meds? Discussion on Zinc Die Castings ILLUMINA’S CONTRASTING ANNOUNCEMENTS SEND MIXED MESSAGES ARTICLE-ILLUMINA’S CONTRASTING ANNOUNCEMENTS SEND MIXED MESSAGES Save Makhbubakhon Ismatova / iStock via Getty Images In the same week, Illumina announced the layoffs of 151 San Diego, CA employees and the opening of a new solutions center in India. Katie Hobbins | Aug 18, 2023 Sending what some would say are rather conflicting messages, Illumina this week announced both a layoff of 151 San Diego, CA employees and the opening of a new solutions center in Bengarluru, India. The layoffs come as the company tries to cut $100 million in costs for 2023 amid biotech funding woes, inner-company turmoil, and a slashed annual profit forecast. This round of cuts, which took effect Aug. 14, impacted employees at its University City Headquarters and 4795 Executive Drive site and affected technical positions in manufacturing and engineering as well as talent acquisition, according to the company’s WARN notice. Illumina will continue to pay and provide benefits for laid off employees through Sept. 11. The company has made multiple cuts to its California workforce in the past 12 months, including two San Diego layoffs. In November, the company cut its global headcount by 5%, including 207 San Diego jobs. During that time, the company faced the resignation of its longtime CEO, Francis deSouza, following a proxy fight with activist investor Carl Icahn, who disagreed with leadership’s decision to continue its $7.1 billion acquisition with Grail despite the US Federal Trade Commission and Europe’s top antitrust regulator rejecting the deal as anti-competitive. The European Union also announced in July that they were fining the company a record $476 million for gun-jumping the deal. The company is currently fighting the regulator’s order to divest Grail and expects rulings by early next year at the latest. Additionally, Illumina disclosed only last week that the SEC has initiated a new investigation into the deal. As part of the $100 million cost saving plan put in place to face headwinds, an 8-K filing the company submitted to the SEC in June said that more cuts would be coming in Q323 and it was planning to scale back its real estate footprint. Illumina framed the reductions “as part of a multiyear plan to realign its operating expenses while maintaining focus on its innovation roadmap and sustainable long-term growth,” according to the 8-K filing. With that in mind, one would count MD+DI as surprised when Illumina yesterday announced the opening of a new office and solutions center in India. The expansion builds on 16 years of collaboration with Premas Life Sciences, offering a permanent facility to continue working with the company, according to Illumina. The center features a fully equipped laboratory with the latest NGS and array technologies, is fully resourced with field applications, and offers company partners and customers broad genomic capabilities, according to the press release announcing the opening. Additionally, the solutions center will provide training and education to “increase local technical expertise and access to genomics.” "In our 25th anniversary year, it's a very exciting time to be growing our physical presence in India to drive access and the further adoption of genomics to transform human health, particularly in oncology and infectious disease,” said Gretchen Weightman, Illumina senior vice president of Asia Pacific, Middle East, and Africa. Now, will the company stick to its plan of continued layoffs in Q223? And has the second part of the plan — to scale back real estate holdings — been axed? TAGS: Markets 0 comments Hide comments user not logged in Comment * Rich Text Editor, edit-comment-body-56201 Editor toolbars BoldKeyboard shortcut Ctrl+B ItalicKeyboard shortcut Ctrl+I Block Quote Press ALT 0 for help ◢Elements path Switch to plain text editor More information about text formats Text format CommentsPlain text COMMENTS * Allowed HTML tags: <em> <strong> <blockquote> <br> <p> PLAIN TEXT * No HTML tags allowed. * Web page addresses and e-mail addresses turn into links automatically. * Lines and paragraphs break automatically. PublishLog in or register to comment Save Leave this field blank Related BIOMEDevice Boston 2023 Biofourmis Cuts 120 Jobs Worldwide, Including 48 in US Jul 26, 2023 3M Q223 Earnings Hampered by PFAS Litigation Jul 25, 2023 Positron Strikes New Manufacturing Agreement with Intelligent Neuclear Medical Jul 24, 2023 * Load More * Next Article * Previous Article * About * Advertise * Subscribe * Battery Technology * Design News * PlasticsToday * Packaging Digest * Powder & Bulk Solids * MD&M West * MD&M East * MD&M Minneapolis * BIOMEDevice Boston * BIOMEDevice San Jose * Sitemap Follow us: Copyright © 2023. All rights reserved. Informa Markets, a trading division of Informa PLC. * Accessibility * Privacy Policy * Cookie Policy * Terms of Use * Visitor Terms and Conditions Back to top Type here X X Subscribe to our Qmed and MD+DI Daily Newsletter & never miss an update! 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