Alphabet’s biotech company, Verily, is laying off its remaining staff in Israel as it looks to lean up in preparation for a potential initial public offering. The cuts will affect 30 people.
About a decade ago, Google restructured so that it would be part of a new organization called Alphabet. Under Alphabet is Google and a plethora of other companies, one of which is Verily, a biotech company. Other businesses under the Alphabet umbrella are Waymo and Google Fiber.
Now, The Guardian is reporting that the company is laying off its last 30 employees in Israel, they are set to depart by the third quarter. The company said that it’s part of a refocus of strategy on core products and projects.
