23andMe Slashes Workforce and Ends Therapeutics Amid Cost-Cutting Measures
Genetic testing company 23andMe is cutting 40% of its workforce, amounting to 200 employees, and halting all therapy program developments as part of a restructuring effort. CEO Anne Wojcicki stated the move aims to focus on the company's core consumer business and research partnerships. The company is also exploring strategic alternatives for its therapies, such as licensing agreements and asset sales. Wojcicki's attempt to take the company private has faced challenges, including the resignation of independent directors in September. The restructuring is expected to save over $35 million annually.