The struggling genetic testing company 23andMe says it’s going to minimize 40% of its workforce, or 200 jobs, because it fights for survival.
The once-popular DNA-testing website can even halt work on therapies it was growing.
Final yr, the corporate stated hackers had managed to gain access to non-public info of thousands and thousands of its customers.
23andMe’s share value has fallen by greater than 70% this yr, as its co-founder and chief government Anne Wojcicki tries to show the enterprise round.
The corporate stated it expects to incur one-off prices of $12m (£9.3m), together with severance pay, for the plan that may lead to financial savings of $35m.
“We’re taking these troublesome however vital actions as we restructure 23andMe and deal with the long-term success of our core client enterprise and analysis partnerships,” Ms Wojcicki stated.
The corporate additionally stated it’s contemplating what to do with the therapies it had in growth, together with licensing or promoting them.
23andMe is a big of the rising ancestor-tracing business. It affords genetic testing from DNA, with ancestry breakdown and personalised well being insights.
In December final yr, 23andMe confirmed that hackers had accessed particulars of about 6.9 million of its customers.
In some instances this included household bushes, delivery years and geographic places, the corporate stated. However the stolen information didn’t embody DNA information, it stated.
Its clients included well-known names, from rapper Snoop Dogg to multi-billionaire investor Warren Buffett.
