((Crohn– The future of the biotechnology company on the peninsula changes significantly. The company announced on Monday in a press release of the Unity Biotechnology technology that starts from its entire workforce.
The workforce reduction includes the CEO of Biotechnology, Financial Director and Legal Director. According to the edition, these three executive managers are moving to consulting roles to “support in assessing strategic alternatives and the organized transition of management roles.”
Displacement operations come after reviewing the results of biotechnology for 36 weeks. The Board of Directors approved the plan to reduce the workforce “while reducing the burning of operational money.”
“As part of the operating plan, (the company) will implement a decrease in the force that affects all the workforce, with some consulting arrangements to close the ASPIRE study,” said Unity Biotechnology in a press statement.
Unity Biotechnology said the company will explore the sale of its assets and technologies.
In the press statement, Unity Biotechnology has not announced any plans to submit bankruptcy. Despite the declared reduction in the workforce, Unity Biotechnology has not been found in the latest Warning report.
At one point, the Unity Biotechnology technology was estimated at $ 700 million, according to Forbes report In 2018, the company was published in May 2018.
Located at 285 E Grand Ave. In southern San Francisco. The company’s mission is to develop “slowness, stopping, or reverse aging diseases.
The full press statement can be found from the company that announces the demobilization of workers here.