Zymergen, a chemical and biofacturing company, is shedding two programs, triggering a wave of lay-offs.
In an earnings statement, the company said that it’s planning to nix a partnership with Sumitomo Chemical to develop electronics films. It is also dropping its consumer care programs, including a lead insect repellent product — ZYM0201.
According to Zymergen, the slimming of its portfolio will ultimately lead to about 220 job cuts “across a variety of levels and functions.”
Meanwhile, Zymergen said it will bolster two segments of its business devoted to health care: One of the units produces a key enzyme used in vaccine manufacturing, and another is devoted to drug discovery. To boost those programs, the company said it will continue to build on its success while leveraging “core company capabilities.”
