and, with it, his job

[GoodTaste]

Does "with it, his job" mean "with the project (terminated), his job would be terminated as well"?

+=================================
Virologist Qui-Lim Choo spent much of the 1980s working from 8 a.m. until 11 p.m., 7 days a week. The work was frustrating: he and two colleagues were hunting for a deadly virus that was contaminating blood supplies, and the search had stalled. Every day that passed without a way to test for the virus meant more people becoming infected. And every day was another chance for the company where he worked to terminate the project — and, with it, his job.

Source: Nature 19 OCTOBER 2020The unsung heroes of the Nobel-winning hepatitis C discovery
A tight-knit team of scientists worked feverishly to identify the deadly virus. Only one of them was awarded the Nobel.

[tzfujimino]

Yes. I agree with your interpretation.

[GoesStation]

The editor should have struck the comma after "and".