The latest from 23andMe, as they search to find footing, has been a layoff of 200 employees, or about 40% of their staff. The positive spin is that they are saving $35 million a year, but it’s part of a deep and hard restructure to stay alive. The CEO, Anne Wojcicki, has been trying to take the company private for months, as the stock price tanked. That savings isn’t likely to go far, as they have $200 million in income, but are bleeding over $600 million each year. The value, many say, is in the DNA records of many millions of people, who sent off to find out more about themselves. That data, if sold to the wrong people, like a hack of about 1/2 their data last year, could be disastrous.
As founder and CEO Anne Wojcicki struggles to take the company private, 200 jobs are cut as part of its restructuring plan.
Found at www.inc.com
