What’s happening with 23andMe? Mass layoffs and restructuring are the latest blow for the embattled DNA testing company
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The once-high-flying firm has been beset by challenges since going public via a SPAC merger in 2021. Here’s the latest.
DNA-testing company 23andMe (Nasdaq: ME), once an industry leader that attracted millions of customers, including rapper Snoop Dogg and investor Warren Buffett, has announced significant cuts to its operations, with plans to lay off 200 employees, or roughly 40% of its workforce. The company also said it will discontinue development of its therapeutic programs. Here’s what to know about the latest development and what led up to it: