May 2026 handed biopharma its worst layoff month on record. Companies cut or planned to cut 6,956 employees, a 47% year-over-year jump and nearly double February’s previous high of 3,713.
Takeda’s 4,500-person reduction, disclosed in a May 13 earnings presentation, is the biggest single piece. The Japan pharma targets more than 200 billion yen in annual savings by FY2028. U.S. exposure includes 247 roles in Massachusetts and 387 in other states, outlined in a March WARN notice.
BioNTech’s 1,860 cuts, announced May 5, tie to facility closures in Germany and Singapore by end of 2027. The German biotech targets roughly €500 million in recurring annual savings once all sites are wound down — a manufacturing exit after COVID vaccine demand collapsed.
The remaining 596 May cuts spread across AbbVie (85 in Irvine, California, effective July 20), J&J (56 in New Brunswick, New Jersey, August 21), Novartis (at least 296 across three actions), and Valneva (10-15% of workforce). Amicus Therapeutics disclosed 58 cuts at its Princeton headquarters just two weeks after BioMarin closed its $4.8 billion all-cash deal for the company.
Two weeks from close to WARN notice is fast. Post-acquisition restructurings don’t typically surface in headcount numbers for 12-18 months. BioMarin paid $14.50 a share, a 33% premium to Amicus’ last close, and that premium made the synergy math explicit from day one: the price assumed cuts.
At least 376 employees have effective end dates in 2026. BioNTech and Takeda haven’t said how many of their cuts fall this calendar year.
Diana Kowalski