Oracle billionaire Larry Ellisons medical institute set for mass layoffs in Los Angeles

A cancer research institute funded by billionaire Oracle co-founder Larry Ellison is preparing to lay off nearly 90 employees in Los Angeles.The Ellison Medical Institute, led by founding CEO and oncologist David Agus, plans to permanently eliminate 88 positions in January, according to a Worker Adjustment and Retraining Notification (WARN) filed with the state on Nov.4.

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By clicking above you agree to the Terms of Use and Privacy Policy.Never miss a story The institute, which operates out of an 84,000-square-foot facility at 12414 Exposition Blvd., near the Expo/Bundy Metro station, has not disclosed the reason behind the layoffs.The California Post reached out for comment, but didn’t immediately hear back.The institute’s LinkedIn profile lists between 51 and 200 employees, although it is unclear how many people currently work at the Los Angeles facility.The announcement comes as several major health care institutions across the region have reduced their workforces amid mounting financial pressures.Kaiser Permanente is planning to eliminate 147 business and administrative positions across 16 California locations beginning Nov.

20, according to a state employment report filed Sept.21.

The cuts include 21 jobs in Los Angeles County and 72 in San Diego, where the largest number of employees will be affected.Earlier this year, L.A.Care Health Plan laid off 225 workers, nearly 3% of its workforce, citing federal and state budget reductions.

The organization is the nation’s largest publicly operated health plan, providing coverage to more than 2.6 million low-income Los Angeles County residents.Children’s Hospital Los Angeles also reduced its workforce by 5.8% last year, pointing to financial challenges that included lower Medi-Cal reimbursement rates.Keck Medicine of USC eliminated another 89 positions in O...