Beleaguered Theranos To Lay Off Nearly Half Of Remaining Employees
In August, the blood-testing company had nearly 800 employees. Now it will be down to 220.
Troubled Theranos To Lay Off 41 Percent Of Employees
Beleaguered blood-testing startup Theranos is laying off nearly half of its remaining workforce, the company said Friday, as it reels from federal sanctions and lawsuits brought on by its underperforming product. The Palo Alto startup will lay off 155 employees — about 41 percent of its workforce — as part of an ongoing restructuring effort. Theranos has shuffled its management, closed its labs and voided two years of test results as it tries to backpedal from the failure of its signature Edison machine, which promised to perform a variety of blood tests using a pin prick’s worth of blood. (Kendall, 1/6)