Genetic testing giant 23andMe cuts 40% of workforce, discontinues therapeutics division
NEW YORK — 23andMe is laying off 40% of its workforce, or more than 200 employees, and discontinuing its therapeutics division as the struggling genetic testing company attempts to slash costs. The latest restructuring efforts were announced by 23andMe ...
South SF-based genetic testing company laying off 40% of workforce
23andMe, a popular South San Francisco-based genetic testing company, is laying off 40% of its workers after struggling with dismal earnings and a chaotic data breach. The company is scrapping approximately 200 employees, 23andMe announced in a Monday news release, which is expected to save the business more than $35 million.
Struggling Genetic Testing Company 23andMe To Lay Off 40% Of Its Workforce, Discontinues All Therapeutic Programs
On Thursday, genetics-led consumer healthcare company 23andMe Holding Co. (NASDAQ:ME) announced a business restructuring to streamline operations and reduce costs. In addition, 23andMe is discontinuing the further development of all its therapeutic programs while evaluating strategic alternatives for its clinical and preclinical assets.
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In yet another blow to the DNA-testing industry, Atlas Biomed, a London-based genetic firm with links to Russia, has disappeared without any warning.
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