Benchling to layoff 74 Employees – 9% Workforce

Image Credit - Benchling

Benchling, which develops software tools for scientists and pharmaceutical research organizations, has laid off 74 employees, or 9% of its workforce, its spokesperson confirmed on Friday.

The startup joins a growing number of U.S. firms, including Facebook-parent Meta Platforms Inc (META.O), Inc and several startups, to downsize its workforce amid mounting worries of a recession in the United States.

The San Francisco-based company, which filed for an initial public offering in late 2021, was last valued at over $6 billion.

Founded in 2012 by Massachusetts Institute of Technology classmates Sajith Wickramasekara and Ashu Singhal, Benchling has emerged as a major player in a niche and growing market for digitizing the R&D process.

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