The struggling genetic testing firm 23andMe says it would lower 40% of its workforce, or 200 jobs, because it fights for survival.
The once-popular DNA-testing web site may even halt work on therapies it was growing.
Final 12 months, the corporate stated hackers had managed to achieve entry to private info of thousands and thousands of its customers.
23andMe’s share worth has fallen by greater than 70% this 12 months, 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 end in financial savings of $35m.
“We’re taking these tough however vital actions as we restructure 23andMe and give attention to 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 improvement, together with licensing or promoting them.
23andMe is a huge of the rising ancestor-tracing business. It gives genetic testing from DNA, with ancestry breakdown and personalised well being insights.
In December final 12 months, 23andMe confirmed that hackers had accessed particulars of about 6.9 million of its customers.
In some instances this included household timber, delivery years and geographic places, the corporate stated. However the stolen information didn’t embrace DNA data, it stated.
Its clients included well-known names, from rapper Snoop Dogg to multi-billionaire investor Warren Buffett.
