Pivot Bio, the agricultural tech company established in 2011, is relocating its research operations from Berkeley to St. Louis, leading to the layoff of 62 employees. This is a significant reduction, reflecting broader challenges in the Bay area's tech job market and a surplus of available lab space. The move is described as a consolidation of operations rather than a complete downsizing, as some staff are being retained for remote work. The decision comes as the company aims to leverage its manufacturing base in St. Louis and adapt to evolving business needs.
"The transition out of Berkeley will take several months, and the number of layoffs may fluctuate as employees decide whether to relocate to St. Louis."
"Pivot Bio's operations are consolidating, which means that while layoffs are occurring, they are not indicative of the company's overall decline."
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