{"id":12673,"date":"2023-01-11T11:51:00","date_gmt":"2023-01-11T11:51:00","guid":{"rendered":"https:\/\/healthwatchminute.com\/?p=12673"},"modified":"2023-01-11T11:51:00","modified_gmt":"2023-01-11T11:51:00","slug":"alphabet-to-cut-staff-of-health-sciences-unit-verily-by-15","status":"publish","type":"post","link":"https:\/\/healthwatchminute.com\/?p=12673","title":{"rendered":"Alphabet to cut staff of health sciences unit Verily by 15%"},"content":{"rendered":"\n<div><img data-recalc-dims=\"1\" decoding=\"async\" src=\"https:\/\/i0.wp.com\/image.cnbcfm.com\/api\/v1\/image\/107177448-1673469293883-gettyimages-1212153748-ALPHABET_VERILY.jpeg?ssl=1\" class=\"ff-og-image-inserted\"><\/div>\n<p><span class=\"HighlightShare-hidden\" style=\"top:0;left:0\"><\/span><\/p>\n<div class=\"RelatedQuotes-relatedQuotes\" id=\"RegularArticle-RelatedQuotes\">\n<div class=\"RelatedQuotes-quotesContainer\">\n<div class=\"RelatedQuotes-titleAndTime undefined\">\n<p class=\"RelatedQuotes-text\">In this article<\/p>\n<\/div>\n<ul class=\"RelatedQuotes-list\">\n<li class=\"QuoteItem-item\" aria-label=\"Quote for null\"><a href=\"https:\/\/www.cnbc.com\/quotes\/GOOGL\" class=\"QuoteItem-link\"><span class=\"QuoteItem-symbol\">GOOGL<\/span><\/a><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"RegularArticle-WatchlistDropdown\" data-analytics-id=\"RegularArticle-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/li>\n<\/ul>\n<\/div>\n<div class=\"RelatedQuotes-cfaButtonContainer\"><button id=\"ArticlePageTickerCreateAccountButton\" class=\"CreateFreeAccountButton-buttonContainer\"><span class=\"CreateFreeAccountButton-buttonText\"><span>Follow your favorite stocks<\/span><span class=\"CreateFreeAccountButton-buttonTextBold\">CREATE FREE ACCOUNT<\/span><\/span><\/button><\/div>\n<\/div>\n<div class=\"InlineImage-imageEmbed\" id=\"ArticleBody-InlineImage-107177448\" data-test=\"InlineImage\">\n<div class=\"InlineImage-wrapper\">\n<div class=\"InlineImage-imagePlaceholder\" style=\"padding-bottom:55.55555555555556%\">\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<\/div>\n<div>\n<div class=\"InlineImage-imageEmbedCaption\">The Verily website is displayed on a laptop computer in an arranged photograph taken in Arlington, Virginia, on Thursday, May 7, 2020.<\/div>\n<div class=\"InlineImage-imageEmbedCredit\">Andrew Harrer | Bloomberg | Getty Images<\/div>\n<\/div>\n<\/div>\n<\/div>\n<div class=\"group\">\n<p>In an email to employees on Wednesday, Verily CEO Stephen Gillett said the company will lay off 15% of its staff in a restructuring move, as it strives for financial independence from parent company <span class=\"QuoteInBody-quoteNameContainer\" data-test=\"QuoteInBody\" id=\"RegularArticle-QuoteInBody-1\"><a href=\"https:\/\/www.cnbc.com\/quotes\/GOOGL\/\">Alphabet<\/a><span class=\"QuoteInBody-inlineButton\"><span class=\"AddToWatchlistButton-watchlistContainer\" id=\"-WatchlistDropdown\" data-analytics-id=\"-WatchlistDropdown\"><button class=\"AddToWatchlistButton-watchlistButton\"><span class=\"AddToWatchlistButton-addWatchListFromTag\"><\/span><\/button><\/span><\/span><\/span>. The cuts will affect about 240 people, a Verily spokesperson confirmed.<\/p>\n<p>Verily, which specializes in health sciences, is one of Google&#8217;s sister companies, operating within Alphabet\u2019s &#8220;Other Bets&#8221; category.<\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>It&#8217;s the first known layoff to hit the Google parent company following a wave of industry layoffs and fears of a recession. Although Google has so far avoided the widespread job cuts that have hit other tech companies like <a href=\"https:\/\/www.cnbc.com\/quotes\/META\/\">Meta<\/a>, employees have <a href=\"https:\/\/www.cnbc.com\/2022\/11\/23\/google-has-avoided-mass-layoffs-but-employees-worry-theyre-coming.html\">grown anxious<\/a> if they could be next, CNBC has reported.<\/p>\n<p>Gillett\u2019s email instructed staff to work from home for the remainder of the week as Verily\u2019s physical offices will be closed on Thursday and Friday. &#8220;Those who are in the office the office today can return home now,&#8221; it stated, specifying that the instruction also goes for employees who work from Google offices.<\/p>\n<p>Some of Verily&#8217;s projects have included a contact lens that can detect diabetes symptoms, which was halted in 2018, and Project Baseline, an effort to aggregate health data with research organizations. It also provided a Covid-19 testing platform, which former <a href=\"https:\/\/www.cnbc.com\/2020\/03\/13\/google-creating-coronavirus-site-to-help-find-testing.html\">President Trump highlighted<\/a> at the start of the pandemic.&nbsp;<\/p>\n<p>Some of Alphabet&#8217;s Other Bets include their own equity structure, CFO <a href=\"https:\/\/www.cnbc.com\/2019\/02\/05\/alphabet-other-bets-equity-structure-explained.html\">Ruth Porat explained<\/a> in 2019, and Verily has been raising money from outside investors for several years. In 2017, Verily took in <a href=\"https:\/\/www.businesswire.com\/news\/home\/20170126005397\/en\/Verily-Announces-800M-Investment-by-Temasek\" target=\"_blank\" rel=\"noopener\">$800 million of outside capital<\/a> from Singapore&#8217;s Temasek, and has since raised more than $2 billion in several more <a href=\"https:\/\/www.cnbc.com\/2019\/01\/03\/alphabets-verily-gets-1-billion-in-investment-as-ruth-porat-joins-its-board-.html\">equity<\/a> <a href=\"https:\/\/www.cnbc.com\/2020\/12\/17\/alphabet-health-company-verily-raises-700-million.html\">rounds<\/a>.<\/p>\n<p>Gillett said the cuts reflect discontinued programs and team &#8220;redundancy,&#8221; according to the emails, which were viewed by CNBC. It says it will offer severance and outplacement services \u201cin the coming weeks and months\u201d but did not provide details yet.<\/p>\n<div style=\"height:100%\" class=\"lazyload-placeholder\"><\/div>\n<p>Gillett\u2019s note stated that it will be &#8220;reducing or sunsetting&#8221; some parts of the business while increasing investment in others. Specifically, Verily will be discontinuing some early stage products, including &#8220;remote patient monitoring for heart failure and micro needles for drug delivery,&#8221; the email states. &#8220;We cannot do everything and have had to make some difficult choices,&#8221; wrote Gillett. The email said the company would hold an all-hands meeting Jan. 18 to explain the changes in more detail.<\/p>\n<p>Gillett\u2019s note also outlines several executive changes and the departure of Jordi Parramon, the president of Verily\u2019s devices businesses who had been with the company &#8220;since its early days.&#8221;<\/p>\n<p>The note said the company will notify laid off employees with an email sent to their Verily and personal emails entitled &#8220;Important Update Regarding Your Role.&#8221; Those who still have jobs will receive an email titled &#8220;Your Role at Verily.&#8221; Those who work out of the U.S. will hear from their business leaders on Wednesday or Thursday, the note stated.<\/p>\n<p>&#8220;While communicating via email is not ideal, this was a deliberate decision, enabling us to communicate as efficiently and simultaneously as possible. We\u2019re also taking today and the rest of the week to ensure each impacted Veep has a personal discussion with a leader and HR partner to discuss the details, answer questions, and provide support through the transition,&#8221; read the note.<\/p>\n<p>&#8220;As we move into Verily\u2019s next chapter, we are doubling down on our purpose, with the goal to ultimately be operating in all areas of precision health,&#8221; the note stated. &#8220;We will do this by building the data and evidence backbone that closes the gap between research and care. We will also focus on building a financially independent company and a thriving company culture.&#8221;<\/p>\n<p>Alphabet and Verily declined to comment further. <\/p>\n<\/div>\n<div id=\"ArticleBody-MobileAdhesion\" class=\"MobileAdhesion-container\" data-module=\"mps-slot\"><\/div>\n","protected":false},"excerpt":{"rendered":"<p>In this article GOOGL Follow your favorite stocksCREATE FREE ACCOUNT The Verily website is displayed on a laptop computer in&#8230;<\/p>\n","protected":false},"author":1,"featured_media":12674,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"nf_dc_page":"","_et_pb_use_builder":"","_et_pb_old_content":"","_et_gb_content_width":"","_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[6],"tags":[],"class_list":["post-12673","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-science","wpcat-6-id"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.8 - 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