Nektar Therapeutics layoffs, on the record
Every job cut, severance charge and restructuring Nektar Therapeutics reported in its annual reports, 2023 to 2025, quoted from the filings.
Job cuts, severance and restructuring
Our summaryCompany completed termination of approximately 70% of its then current workforce under the 2022 Restructuring Plan.
Word for word“As discussed in Note 8 to our Consolidated Financial Statements, pursuant to our 2022 Restructuring Plan, we completed the termination of approximately 70% of our then current workforce during 2022, and, in April 2023, we announced our 2023 Restructuring Plan to reduce our San Francisco-based workforce by approximately 60%, which was substantially completed by June 2023.” 10-K for 2023
Our summaryCompany announced a 2023 Restructuring Plan to reduce its San Francisco-based workforce, substantially completed by June 2023.
Word for word“In April of 2022 and 2023, we implemented the 2022 Restructuring Plan and 2023 Restructuring Plan, respectively, which both prioritized key research and development efforts that will be most impactful to the Company's future.” 10-K for 2023
Our summaryCompany recorded severance and benefit expense under the 2023 Restructuring Plan.
Word for word“Severance and benefit expense — 7,885 7,885 30,904 Impairment of right-of-use assets and property, plant and equipment 14,728 20,600 35,328 65,761 Loss (gain) on sale or disposal of other property, plant and equipment, net — 1,300 1,300 (3,326 ) Contract termination and other restructuring costs 1,919 34 1,953 10,898 Restructuring, impairment and costs of terminated program $ 22,139 $ 29,819 $ 51,958 $ 135,930” 10-K for 2023
Our summaryCompany recorded severance and benefit expense under the 2022 Restructuring Plan, with the 2022 plan's severance expense reflecting the entire expense for that plan.
Word for word“The severance expense recorded in each year reflects the entire expense for the Restructuring Plan of such year.” 10-K for 2023
Our summaryCompany consolidated San Francisco operations into its Mission Bay Facility and vacated its Third Street Facility and certain Mission Bay lab and office spaces under the restructuring plans.
Word for word“In connection with our 2022 and 2023 Restructuring Plans, we have consolidated our San Francisco operations in our Mission Bay Facility, and we have vacated our Third Street Facility and certain laboratory and office spaces at our Mission Bay Facility.” 10-K for 2023
Our summaryCompany stated it does not expect to recognize further severance expense under the 2022 or 2023 Restructuring Plans in 2024.
Word for word“We do not expect to recognize any further severance expense under the 2022 or 2023 Restructuring Plans in 2024.” 10-K for 2023
Our summaryReduced the San Francisco-based workforce under the 2023 Restructuring Plan, substantially completed by June 2023.
Word for word“Personnel, overhead and other costs decreased for the full year 2024 as compared to the full year 2023 due to our 2023 Restructuring Plan (as further disclosed in Note 10 to our Consolidated Financial Statements), pursuant to which we reduced our San Francisco-based workforce by approximately 60%, which was substantially completed by June 2023.” 10-K for 2024
Our summaryRecognized severance and benefit expense related to the 2023 Restructuring Plan.
Word for word“We recognized $7.9 million for severance and benefit expense in 2023 related to the 2023 Restructuring Plan.” 10-K for 2024
Our summaryRecognized contract termination costs, primarily from the 2022 Restructuring Plan.
Word for word“We recognized $7.3 million and $2.0 million in contract termination costs for the full years 2024 and 2023, respectively, primarily resulting from our 2022 Restructuring Plan.” 10-K for 2024
Our summaryAnnounced the 2022 and 2023 restructuring plans, which cut significant portions of the workforce and led the company to sublease all of its leased San Francisco premises.
Word for word“Note 10 — Restructuring and Impairment As discussed in Note 1, in April 2022 and April 2023, we announced the 2022 Restructuring Plan and the 2023 Restructuring Plan, pursuant to which we terminated significant portions of our workforce and decided to sublease all of our leased premises in San Francisco, California, including our office leased space in the Third Street Facility and our office and laboratory space in the Mission Bay Facility.” 10-K for 2025
Our summaryRecognized contract termination costs in 2025 and 2024 tied to the restructuring plans.
Word for word“We recognized $4.9 million and $7.3 million in contract termination costs for the full years 2025 and 2024, respectively, in connection with our Restructuring Plans.” 10-K for 2025
| Fiscal year ended | Severance costs |
|---|---|
| 2022-12-31 | $30.9 million |
| 2023-12-31 | $7.9 million |
| 2024-12-31 | $0 |
Nektar Therapeutics filed 2 restructuring notices (Form 8-K, Item 2.05) since 2016. This page shows what the company reported to the SEC, not news reports or state layoff notices.
Read from Nektar Therapeutics’s annual reports (10-K for 2025, 10-K for 2024, 10-K for 2023) and the financial data it files with the SEC, as of 2026-03-13. Every quotation is word for word from the filing linked beside it; how these pages are built and checked. The full record is in its company data sheet.