Signify Premium Insight: Verily and the Truth Behind its Restructuring Programme
Published: January 31, 2023
Google’s parent company, Alphabet, last month announced a strategic shake-up at Verily, its life sciences business. The restructuring programme will see around 200 of Verily’s 1,600-plus workers lose their jobs as the company shelves unprofitable projects and intensifies its focus on high potential products and services.
The company will use a $1B cash injection from Google last September to push through with the restructuring, which will, in particular, see Verily’s precision health business expanded.