Theranos lays off another 155 people in wake of scandal

Theranos lays off another 155 people in wake of scandalTheranos will lay off 41 percent of its workforce, the company said on Friday.  The troubled blood testing company, which is the subject of multiple lawsuits and investigations, announced that it would lay off 155 employees, keeping on 220 staffers.  "These are always the most difficult decisions; however, this move allows Theranos to marshal its resources most efficiently and effectively," the company wrote in a press release. "The restructuring follows a period of significant change at the company that has included the building out of its executive team with substantial additional regulatory, compliance and operational expertise."  Theranos, under CEO Elizabeth Holmes, plans to refocus on its portable blood testing product, miniLab.  The onetime top-tier startup began crumbling when a series of Wall Street Journal articles exposed its business practices and technology as unethical and shaky. At its peak, the company was valued at $9 billion and Holmes was seen as a visionary in biotech.  The company cut 340 jobs in October. BONUS: Take a tour of the biggest greenhouse in the world

Related Blogs

    Share this:
    Share this page via Email Share this page via Stumble Upon Share this page via Digg this Share this page via Facebook Share this page via Twitter

    Speak Your Mind