San Diego's biotech industry faces a marked downturn amid dwindling funding and a saturated labor market. The region, though historically a top life sciences cluster, is witnessing soaring job vacancies, significant layoffs, and abundant lab space. Layoffs at prominent companies like Illumina and Thermo Fisher exacerbate worker uncertainty, with many highly qualified professionals struggling to secure positions. Analysts attribute part of this chill to political upheaval and disrupted science funding, reflecting broader challenges for biotech innovation hubs in uncertain economic climates.