Monday, May 20, 2024

C&EN: "Ginkgo to cut costs as pandemic-related business slows"

Via this week's C&EN (article by Matt Blois): 

Ginkgo Bioworks is cutting costs and laying off staff after losing $166 million in the first quarter. Revenue from its disease-monitoring business surged during the COVID-19 pandemic but was down more than 50% compared with the first quarter of 2023. Its business that engineers microbes for biomanufacturing customers slowed because fewer start-ups were seeking help. Ginkgo plans to cut spending on laboratory space by 60% and labor by 25% over the next year...

That stinks for Gingko workers. Best wishes to them. 

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looks like Blogger doesn't work with anonymous comments from Chrome browsers at the moment - works in Microsoft Edge, or from Chrome with a Blogger account - sorry! CJ 3/21/20