Additionally, the company, which makes T-cell drugs for cancer treatment, is launching a search for a new CEO. Its current CEO Nick Leschly will become chair of the company’s board. The company said the cuts will generate $130 million in savings.
For the job cuts, the company is taking a one-time charge of $9 million. 2seventy no longer expects to generate $470 million to $570 million in 2023 revenue.
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