Biopharmaceutical companies recorded 62 layoff rounds in the third quarter of 2025, nearly matching the 64 rounds seen in each of the first two quarters, according to Fierce Biotech’s Layoff Tracker. With 190 rounds over the first three quarters, 2025 is on track to exceed 2024’s total of 192 rounds by approximately 27%. Notable large-scale cuts include Novo Nordisk’s announcement to lay off 9,000 employees aiming to save $1.3 billion annually by 2026, Merck’s 6,000 job reductions targeting $3 billion in savings by 2027, and Sarepta Therapeutics' restructuring involving a 36% workforce reduction. Ongoing gene therapy safety concerns and market pressures continue to influence workforce stability in the sector.