The struggling genetic testing firm 23andMe says it can lower 40% of its workforce, or 200 jobs, because it fights for survival.
The once-popular DNA-testing website will even halt work on therapies it was growing.
Final yr, the corporate mentioned hackers had managed to achieve entry to private data of tens of millions of its customers.
23andMe’s share value has fallen by greater than 70% this yr, as its co-founder and chief government Anne Wojcicki tries to show the enterprise round.
The corporate mentioned it expects to incur one-off prices of $12m (£9.3m), together with severance pay, for the plan that can end in financial savings of $35m.
“We’re taking these tough however obligatory actions as we restructure 23andMe and concentrate on the long-term success of our core client enterprise and analysis partnerships,” Ms Wojcicki mentioned.
The corporate additionally mentioned 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 presents genetic testing from DNA, with ancestry breakdown and personalised well being insights.
In December final yr, 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 mentioned. However the stolen information didn’t embody DNA data, it mentioned.
Its prospects included well-known names, from rapper Snoop Dogg to multi-billionaire investor Warren Buffett.
