Societal CDMO lays off 26 employees, starts hiring freeze after strategy review

Small mol­e­cule man­u­fac­tur­er So­ci­etal CD­MO is lay­ing off 9% of its em­ploy­ees — 26 po­si­tions — and ter­mi­nat­ing nine open roles to save around $5.5 mil­lion a year as part of its “strate­gic re­align­ment.” The move is a re­ac­tion to the “macro phar­ma mar­ket fi­nanc­ing chal­lenges,” with plans to fo­cus on its man­u­fac­tur­ing strengths, the com­pa­ny said.

The ma­jor­i­ty of work­force cuts, ef­fec­tive Sept. 20, will im­pact work on its ear­ly-stage ser­vices, which are the most af­fect­ed by the “cur­rent fi­nanc­ing en­vi­ron­ment,” ac­cord­ing to Wednes­day’s press re­lease.

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