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Exact Sciences announces around 230 layoffs, including in Wisconsin

Exact Sciences announced around 230 employees, about 50 of whom are based in Wisconsin, were laid off Tuesday amid high inflation.
Published: May. 19, 2022 at 7:06 PM CDT
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MADISON, Wis. (WMTV) - Exact Sciences announced around 230 employees, about 50 of whom are based in Wisconsin, were laid off Tuesday amid high inflation and a need to prioritize specific programs.

Company spokesperson Scott Larrivee stated Thursday that these layoffs make up around 3% of the company’s total workforce. The company employs around 7,000 workers worldwide, half of whom are based in Wisconsin.

Larrivee explained that the company has grown rapidly over the past several years and has worked to improve people’s lives through innovative tests to detect cancer.

However, headwinds like inflation as well as a need to prioritize the programs that will have the greatest impact on improving cancer care have resulted in aligning our workforce and resources closely to our highest impact programs,” Larrivee said.

Employees who were let go were offered a severance package and other services, he added.

He also said that the company currently has an equal number of open roles and expects to have a net positive increase to its employee headcount by the end of the year. Exact Sciences is encouraging its impacted team members to apply for any open options.

“We will do everything we can to support our impacted teammates with utmost empathy and thoughtfulness,” Larrivee said.

Lab staff and international employees were not affected by the layoffs.

Full statement:

Exact Sciences is committed to improving the lives of people globally by providing innovative tests to help detect cancer earlier and inform better cancer treatment decisions.

Our company has grown rapidly over the past several years, both organically and through acquisitions, and has made great strides in achieving this mission.

However, headwinds like inflation as well as a need to prioritize the programs that will have the greatest impact on improving cancer care have resulted in aligning our workforce and resources closely to our highest impact programs.

We anticipate that this will result in a small reduction of approximately 3% of our global employee base. That said, we have an equal number of open roles and ultimately expect to have a net positive increase to employee headcount by the end of this year.

We will do everything we can to support our impacted teammates with utmost empathy and thoughtfulness. All departing teammates will be receiving a comprehensive severance package. We will encourage all to pursue one of the open positions and Exact Sciences will actively facilitate this process.

Scott Larrivee, spokesperson, Exact Sciences

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