Exact Sciences cuts about 5% of workforce, including in Wisconsin

Exact Sciences confirmed about 350 layoffs Monday, noting that around 250 of the roles are in Wisconsin.
Published: Nov. 7, 2022 at 5:39 PM CST|Updated: Nov. 7, 2022 at 7:29 PM CST
Email This Link
Share on Pinterest
Share on LinkedIn

MADISON, Wis. (WMTV) - Exact Sciences confirmed about 350 layoffs Monday, noting that around 250 of the roles are in Wisconsin.

A spokesperson for the company, Stephanie Spanos, explained that the eliminations were at various levels of the organization and across divisions.

Spanos stated that a portion of the roles impacted, about 200 in Wisconsin, will be staying on until the end of November. The last day for the rest of the remaining employees will be Nov. 18.

In a statement, Exact Sciences said the reductions make up approximately 5% of its total workforce.

“The impact of inflation, market volatility, and prioritization of the programs that will have the greatest impact on improving cancer care have resulted in the need to allocate our workforce and resources more closely to our highest priority programs. We’ve also taken steps to simplify our organizational structure to improve communication and operational efficiencies.”

The statement noted that employees affected will receive severance packages, outplacement services and the chance to apply for one of 200 open roles throughout the country.

Spanos added that these eliminations are on top of the ones announced in May, where around 230 employees were laid off. About 50 of those positions were based in Wisconsin.

Full statement from Exact Sciences:

Exact Sciences is committed to improving the lives of people globally through innovative tests to help detect cancer earlier and provide guidance for successful treatment. For many years, our company has focused on investing to support rapid growth, both organically and through acquisition, and we have made great strides in achieving this mission. The impact of inflation, market volatility, and prioritization of the programs that will have the greatest impact on improving cancer care have resulted in the need to allocate our workforce and resources more closely to our highest priority programs. We’ve also taken steps to simplify our organizational structure to improve communication and operational efficiencies. This will result in a reduction of approximately 5% of our workforce. Impacted team members will be supported with empathy and respect through the transition and will receive comprehensive severance packages, outplacement services, and the opportunity to apply for one of the 200 open roles across the company. We remain deeply committed to Madison and excited to be part of its future for years to come.

Click here to download the NBC15 News app or our NBC15 First Alert weather app.