Tech Transfer eNews Blog

Johns Hopkins tech transfer arm lays off eight staff members in wake of COVID-19

By Jesse Schwartz
Published: October 28th, 2020

In the wake of the coronavirus pandemic, the tech transfer arm of Johns Hopkins University (JHU) has been forced into layoffs of staff members.

Johns Hopkins Tech Ventures (JHTV) has let go of eight people across its divisions, as part of broader job cuts at JHU due to revenue losses it has suffered during the pandemic. According to the university, a total 1.2% of its 17,000-employee workforce has been laid off, while at JHTV, the cuts were closer to 10% of its roughly 80-employee team.

“COVID-19 has required the university to carefully scrutinize and tighten all aspects of its budget,” the university said in a statement. “Following an April communication about necessary university-wide financial mitigation steps, JHTV conducted a rigorous assessment of its staffing structure in order to identify division-specific cost saving opportunities. Despite a healthy business with strong revenue projections, we identified a new structure for JHTV that will optimize our division for leaner times.”

Although its team has downsized, JHTV plans to offer the same resources and support for students and faculty members aiming to commercialize university technologies.

Source: Technically

Posted under: Tech Transfer e-News

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