Opinion: STAT+: Recursion CEO: Biotech’s rainy season is not over — but we must race ahead
After layoffs at Recursion, the company’s CEO writes about taking inspiration from an unexpected source: “The Art of Racing in the Rain.”
This week, I had to make one of the most difficult decisions of my career: saying goodbye to 20% of the team at Recursion.
The process was extraordinarily painful, and the costs were heartbreakingly human. Nevertheless, it was a decision Recursion leadership made with clarity and focus, with the company’s mission at the heart.
We at Recursion are not alone in facing this kind of decision. Layoffs, pipeline cuts, and corporate restructurings have become all too common in a sector blemished with macroeconomic challenges. Biotech stocks are struggling, capital is scarce, and federal funding for startups has been slashed.
