BioMarin Making Cuts Despite Strong Earnings Report

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istock_123119_grafmoneyusa

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BioMarin Pharmaceuticals is laying off 225 employees, or 7-percent of its global workforce. The San Rafael based company is reportedly doing this as part of restructuring with severance packages totaling up to $35 million. It also comes amidst a strong earnings report for the 2024 second quarter ending June 30. BioMarin reported a nearly 20% year-over-year growth to $712 million.