The high cost of California living is driving Gilead to shift some workers out of the state.
According to a report by the San Francisco Chronicle, the company has announced plans to axe 178 positions at one of its locations near the Bay Area, but about half of the workers will be shifted to a service center in North Carolina.
Gilead currently employs about 13,000 people around the world — about half of which call California home. But the company has been exploring a number of cost-cutting measures, including the development of a service center in North Carolina.
When completed in two years, the service center will employ 275 people. The company is investing up to $5 million on the project but could also receive $10 million in reimbursement thorough a North Carolina economic development program. All told, Gilead says it could gain up to $39 million each year from the project.
Read the San Francisco Chronicle report.
