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

Alphabet's life sciences unit, Verily, plans to restructure its business as it anticipates a fresh round of investment. In a town hall meeting on Monday, Verily CEO Stephen Gillett told staff that Verily would transform from a Limited Liability Company to a C-corp, a business structure generally considered more investor-friendly, according to a person who heard the remarks and asked to remain anonymous because they were not permitted to speak to the press.Gillett told employees the change was happening as ...