Posted on August 28, 2022
In a Securities and Exchange Commission report filed Thursday, Zymergen revealed it is cutting 80 more jobs and parting ways with Zach Serber, its co-founder and chief scientific officer, on Sept. 22.
This most recent round of job cuts follows the company's announcement it was cutting 80 jobs in July. The Emeryville, CA biotech expects to pay around $3.8 million in cash for employee severance. This brings its termination pay total to approximately $7.5 million since Zymergen started a fresh round of lay-offs last month.
The company also expects to incur restructuring costs and stock-based compensation related to the headcount reduction, though the exact amounts for these have yet to be evaluated.
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