From PC Mag: DNA testing company 23andMe is laying off 200+ employees, or about 40% of its workforce.
The job cuts are part of a business restructuring to reduce costs, 23andMe says. Along with layoffs, the company is discontinuing new developments to its therapeutics program, which has been focused on using customers’ DNA data to aid in drug discovery.
Some critics have urged 23andMe users to delete its DNA data over concerns that a third-party company could take over the company and harness the DNA information for other purposes.
But in announcing the cuts, 23andMe CEO Anne Wojcicki said her goal is to ensure the "long-term success" of its core consumer business and research partnerships. The restructuring promises to help 23andMe save more than $35 million in annual costs. In addition, 23andMe is hoping it can monetize what’s left of the therapeutics program through “licensing agreements, asset sales or other transactions.”
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