Alphabet's Verily plans to restructure ahead of fresh investment, and as employees see their shares tank

Group 1 - Verily, Alphabet's life sciences unit, is restructuring its business and transitioning from a Limited Liability Company to a C-corp to attract new investments [1][2] - The company anticipates a new round of investment but has not confirmed any secured funding [2][3] - Verily's share value has been revalued, decreasing by approximately 80% compared to its 2024 value [2] Group 2 - CEO Stephen Gillett indicated that Verily's current valuation is too high relative to its earnings [3] - The company is undergoing a multi-year cost-cutting and streamlining mission, including the closure of its devices business and layoffs [8] - Verily is gradually detaching from Google to prepare for becoming an independent entity [8]