23andMe is laying off 40 percent of its staff
More than 200 employees of 23andMe are being laid off as part of the company’s ongoing cost-cutting measures. The layoffs will impact 40 percent of the genetic testing company’s workforce. 23andMe CEO and co-founder Anne Wojcicki said in a statement released on Monday that the staff reduction would save the beleaguered company more than $35 million. She called the layoffs “difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships.” The company also announced it will start to shut down its therapeutics clinical programs that used its genetic database to research and develop new drugs. The therapeutics division housed two “immuno-oncology programs” that investigated therapeutic antibodies “designed to restore the ability of the body’s immune cells to kill cancer cells,” according to the division’s website. The San Francisco-based company has not had an easy year. Hackers hit the genetics giant in April of last year and leaked information of 6.9 million customers. The data breach went unnoticed for a year and a half, leading to a $30 million settlement of a class action lawsuit and resignations from the company’s entire board.This article originally appeared on Engadget at https://www.engadget.com/big-tech/23andme-is-laying-off-40-percent-of-its-staff-221207302.html?src=rss
More than 200 employees of 23andMe are being laid off as part of the company’s ongoing cost-cutting measures. The layoffs will impact 40 percent of the genetic testing company’s workforce.
23andMe CEO and co-founder Anne Wojcicki said in a statement released on Monday that the staff reduction would save the beleaguered company more than $35 million. She called the layoffs “difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships.”
The company also announced it will start to shut down its therapeutics clinical programs that used its genetic database to research and develop new drugs. The therapeutics division housed two “immuno-oncology programs” that investigated therapeutic antibodies “designed to restore the ability of the body’s immune cells to kill cancer cells,” according to the division’s website.
The San Francisco-based company has not had an easy year. Hackers hit the genetics giant in April of last year and leaked information of 6.9 million customers. The data breach went unnoticed for a year and a half, leading to a $30 million settlement of a class action lawsuit and resignations from the company’s entire board.This article originally appeared on Engadget at https://www.engadget.com/big-tech/23andme-is-laying-off-40-percent-of-its-staff-221207302.html?src=rss
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