The biotech and pharmaceutical industries are experiencing significant workforce reductions. Six major pharma companies—including Novo Nordisk, Merck, Bayer, Bristol Myers Squibb, Pfizer, and Novartis—have collectively laid off or plan to lay off over 39,000 employees as part of cost-cutting and restructuring efforts aimed at streamlining operations and managing financial pressures. Despite fears among industry professionals, experts suggest larger pharmaceutical companies may offer more stability compared to smaller biotechs amid tightening funding. This wave of layoffs mirrors broader market recalibrations following periods of rapid growth and investment.