Based on news reporting.
Sutro Biopharma, Inc. has announced significant layoffs, cutting its workforce by half, which translates to approximately 50 employees. This decision comes alongside the departure of its CEO and the discontinuation of its lead antibody-drug conjugate (ADC) program. The company is undergoing a restructuring process to streamline operations and focus on its core projects. The layoffs reflect Sutro's strategic shift in response to current market conditions and internal assessments of its business direction. This move is part of a broader trend in the biotech industry as companies reassess their workforce amid economic challenges.
Sutro Biopharma, Inc. cut 50 jobs as of October 1, 2023.
That is roughly 50% of the 100 people Sutro Biopharma, Inc. employs.
LayoffTalk has tracked 7 layoff events at Sutro Biopharma, Inc. since October 2023, affecting a combined 340 employees.
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