Business & Tech
Mass Layoffs Announced At New Haven Based Company
The bioscience company notified the state of its plans Wednesday.
NEW HAVEN, CT — Arvinas Inc., a local bioscience company, notified the state Wednesday it is planning a "mass layoff" of 131 of its employees in late June.
The terminations include employees who work at the business’ 5 Science Park facility and employees who work remotely, according to an April 30 Worker Adjustment and Retraining Notification Act (WARN) notice.
The layoffs are expected to be permanent and go into effect June 29, according to the notice from Steve Weiss, Arvinas’ senior vice president and chief human resources officer.
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Of the 131 employees impacted, 92 are Connecticut residents, according to the company.
The impacted employees have a variety of titles, such as senior associate scientist, research scientist, research investigator, and associate director of data management.
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In a May 1 report of its first-quarter financial results, the company indicated the reduction represents about one-third of its overall workforce.
John Houston, president and CEO of Arvinas, said the reduction will be completed in the second quarter of 2025 and will “streamline operations across the organization.”
Read More: Mass Layoffs Announced, Company Stunned By Loss Of Contract, Officials Say
“Although difficult, the workforce reduction is a prudent decision that we believe will right-size the company for future success,” Houston said. “I want to thank all the talented employees who were directly impacted by this decision. I’m proud of the progress we have made together, and want to acknowledge their contributions, and commitment, to discovering and developing new treatment options for patients with serious diseases.”
Arvinas has been working to develop treatments for various diseases, such as breast cancer and Parkinson’s disease.
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