23andMe Faces Uncertain Future Amid Mass Layoffs and Leadership Exodus
TL;DR
23andMe is undergoing a major restructuring, laying off 40% of its workforce and cutting cancer research programs to focus on its core genetic testing business. This move follows the mass resignation of its board and a significant drop in market valuation. CEO Anne Wojcicki aims to stabilize the company by saving $35 million annually through these changes, despite challenges like a data breach and declining demand for DNA-testing kits.
- After its entire board resigned overnight, 23andMe will cut over 200 employees and its cancer research in an urgent bid to nurse the company back to health Fortune
- 23andMe says there’s ‘substantial doubt’ it can stay in business MarketWatch
- What happens to customer data as 23andMe goes out of business? CBS News
- South SF-based genetic testing company laying off 40% of workforce SFGATE
- 23andMe layoffs: Company to cut 200 jobs ahead of holidays KRON4
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