Do Mass Tech Layoffs Mean the Same for BioPharma?

The tech industry and the life sciences have converged more in recent years than ever before. One report estimates the pharma industry will spend $4.5 billion on digital transformation by 2030; another predicts that by 2025, spending will top $3 billion on artificial intelligence alone.

It stands to reason, then, that with just under 98,000 tech employees laid off just one month into 2023, many are likely wondering if biotech layoffs will reach similar peaks.