23andMe Cuts Workforce by 40%

Genetic testing company 23andMe announced on Monday that it will lay off over 200 employees, amounting to approximately 40% of its workforce. This decision is part of a broader restructuring initiative aimed at reducing costs. The company anticipates that this move will result in cost savings exceeding $35 million annually. The layoffs come at a time when 23andMe is attempting to navigate challenges in its industry and optimize its operations.

This reduction in workforce marks a significant change for 23andMe, known for its consumer DNA testing kits and its important role in the direct-to-consumer genetic testing market. The company did not specify which departments or positions would be most affected by the job cuts.

This restructuring plan is one of the latest examples of workforce reductions in the technology and healthcare sectors, as companies adapt to market demands and seek sustainable paths for progress. The savings expected from this move underscore the company's efforts to maintain financial stability and operational efficiency.