Genentech said the layoffs and the closure were unrelated to the current economic climate that’s triggered at least 19,000 tech job losses across the Bay Area.
Bay Area biotech giant Genentech is laying off 265 workers as part of its plan to close a manufacturing plant in South San Francisco, the company confirmed Saturday.
Genentech said the layoffs and the closure were unrelated to the current economic climate that’s triggered at leastacross the Bay Area. In a statement, the company added it has been “transparent with employees about this decision for several years” and is offering them severance pay, financial benefits, extended healthcare coverage and career transition services.
The company decided to scale back its presence in South San Francisco, where it’s still headquartered, about 15 years ago. In 2019, roughly 900 employees worked at the manufacturing facility that’s now closing. Most moved to other roles within the company, Genentech said.
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