(KON) – A company in biotechnology in the Gulf region, which applies dozens of people this week, blames the reduction of jobs on the Trump administration policies. Eikon Therapeutics Inc. By reducing 55 jobs from its Mllebrae facility, according to a warning notice provided by the Ministry of Employment Development.
Leaded by a former Merck executive in Hayouard, a vital technology company that develops cancer treatment drugs.
The job cuts, announced this week, will lead to July 21, and reach less than 15 % of the company’s total workforce.
However, instead of throwing discounts in jobs as part of a wider reorganization, or installing them for excessive employment, Eacon blames the Trump administration policies. In particular, discounts to academic institutions and research.
“To be clear, these decisions were deposited by the external forces,” read a post on the company LinkedIn page Thursday. “For example, government financing discounts restricted the budget of academic institutions, which requires that we stop developing our advanced tools for external researchers.”
“The market of these tools has evaporated,” the post continues. “Likewise, as investment in the global technology sector, Prudnce requires Eikon to focus on its concentration and generation of competencies in our operations.”
Eicon described the affected employees as “talented, and very careful” and said it would allow benefits to help calm their transition.
“Colleags who will be missed farewell to Eicon today.” “The ingenuity, dedication and commitment helped to create this exceptional organization. Acknowledging these contributions, we have made many benefits programs to enable those affected by following other job options.”
Workers’ demobilization comes after only three months According to what was received, Eacon received 350 million dollars D series D. Tour.
EKon’s job cuts are the latest to Bay Area’s biotechnology industry, which has witnessed a number of workers’ demobilization during the past year.