Laid off from Exelixis.

What Exelixis layoffs have meant for employees

Exelixis's early cuts followed its drug programs. The December 2010 8-K focused the company, then about 400 people, on its lead compound, XL184, and when cabozantinib's prostate cancer trial failed in 2014, the cut that followed left about 75 employees and focused what money there was on two cabozantinib trials, in kidney and liver cancer, according to the September 2014 8-K. Both filings give a drug program as the reason. Our WARN tracker logged that 2014 cut as two South San Francisco notices, filed from what was then the company's headquarters city. By 2025, Fierce Biotech was calling Cabometyx, Exelixis's brand of cabozantinib, its flagship, and the 10-K for 2025 counted 1,077 employees on December 31, 2025.

In January 2024 the planned job cuts and a board authorization to buy back up to $450 million of stock before the end of 2024 went out in the same January 2024 8-K. That plan reached past payroll, to real estate and licensing partnerships, and it ran over its estimate, since the 10-K books $33.7 million against roughly $25 million expected, with $15.7 million of it severance and employee-related costs. The 10-K also says Exelixis's employee turnover ran below the life sciences industry's benchmark for five years except in 2024, which it put down to an organizational restructure. The 2024 plan exited two leases in the Greater Philadelphia area, and the 2025 plan set out to close the King of Prussia office.

The 2025 reorganization was about where Exelixis wanted its people. The company had hired many into fully remote jobs during and after the pandemic, its spokesperson told Fierce, and was now focusing largely on Alameda, where it hoped to reopen many of the cut positions. Fierce reported 71 people being laid off at the Alameda site and 33 remote employees who report to California-based managers also being cut, with four vice presidents, a clinical trial manager and several scientists among those dismissed, so the cut reached senior management and science roles alike. The counts don't line up neatly, since the spokesperson confirmed 130 layoffs and the two California notices in our tracker list 145 jobs between them. If Exelixis offers you another role after a remote or Pennsylvania job was cut, where it's based is worth weighing, since the spokesperson said the company hoped to reopen many of those positions in Alameda.

More than once, Exelixis has tied severance money to a release of claims. The November 2008 8-K made part of that year's severance depend on a separation agreement with a release, the six months of salary and COBRA premiums a departing executive was entitled to in 2014 came in exchange for a general release, and the restated plan for vice presidents starts salary payments only after its release takes effect, unless a participant's notice says otherwise. If severance comes with your letter and asks for a release, what you'd give up by signing is worth weighing as part of the deal, and negotiating a severance agreement walks through which parts of a deal like that tend to move. Health coverage has been part of those deals before, so if you're weighing whether to keep your plan, how COBRA works explains the election and its cost.

As of its 10-K for 2025, no Exelixis employees were represented by a labor union. If you worked in Alameda, California unemployment benefits covers how that state handles a claim. If you worked at King of Prussia, our tracker holds no Pennsylvania notice from Exelixis, since every one it has is Californian, and Pennsylvania unemployment benefits covers that state's claim rules.

A sourced history of Exelixis layoffs

• August 2025, King of Prussia closing and Alameda notices

  Exelixis moved to close its King of Prussia office and lay off 130 people, a spokesperson told Fierce Biotech, and hoped to reopen many roles in Alameda. California's 2025-26 WARN report lists Alameda notices for 71 jobs effective October 27 and 74 effective August 29.

• January 2024, plan for about 175 job cuts

  The board approved it January 5 to cut about 13% of the workforce and trim real estate costs, estimating $13.5 million of workforce charges, the January 2024 8-K says. A 143-job California notice dated January 8 sits in our WARN tracker.

• September 2014, cuts after the COMET-1 trial failed

  When COMET-1, its phase 3 cabozantinib trial in prostate cancer, failed, Exelixis cut about 70% of its workforce, leaving about 75, the September 2014 8-K says. Staff were to be paid through a 60-day notice period, followed by cash severance, accrued vacation and outplacement.

• December 2010, two-year plan built around XL184

  With about 400 employees, Exelixis set out to cut about 65% over two years to focus on its lead compound, XL184, starting with about 144 jobs, the December 2010 8-K says.

• March 2010, drug discovery cuts and a San Diego closing

  A board committee approved cutting 270 jobs, about 40% of the workforce and weighted toward drug discovery, plus closing the San Diego facility; staff were told March 8, the May 2010 amended 8-K says.

• November 2008, restructuring to match spending to cash

  Exelixis notified 78 employees, about 10% of staff, on November 4, the November 2008 8-K says, each eligible for length-of-service severance, a health payment toward COBRA premiums and outplacement, part of it tied to signing a release.

What to do if you're laid off from Exelixis

• File for unemployment in the state where you worked. Benefits run from your filing date, and severance usually doesn't block you. Exelixis's biggest hubs: California. Somewhere else? Every state is here.
• Apply for financial and hardship assistance. Unemployment supplements income, but food benefits, health coverage and utility help are often available as well. Here's some of what Exelixis's hub states run: California, and every other state is here.
• Mind the health insurance window. Losing coverage opens a 60-day special enrollment period, and an ACA plan usually beats unsubsidized COBRA. Compare your options before the employer coverage lapses, and read how the COBRA clocks run if you are weighing it seriously.
• Get your real runway number. Severance plus savings divided by reality. The calculator takes five minutes.
• Know which clocks are already running. Severance review windows, COBRA election, visa grace periods, and 401(k) rollovers all run on federal deadlines that started at termination. All five deadlines are here.