The London-based firm had said July 6 it was instituting cost efficiencies in the third quarter of 2022 but didn’t specify how. People familiar with the matter told Bloomberg that the move will include layoffs, according to the July 12 story. The job cuts could affect about 100 employees in the U.S. and United Kingdom.
“Like many other responsible organizations at these times of change, we are focusing our resources on activities that most directly serve our mission, and that means some reduction in noncore activities,” Babylon spokeswoman Marnie Maton said in a statement to Bloomberg. “We are not reducing any patient-facing clinicians in Rwanda, the U.K or U.S.”
Babylon didn’t respond to a request from Becker’s for further comment. The company quadrupled its annual revenue but still had an operating loss of $402.5 million in 2021.
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
