Theranos Is Laying Off Another 155 Employees
The company's 'core team' will continue development of a new miniLab.
Just three months after the company laid off 340 employees, Theranos' workforce is being slashed again. The company announced today that it will part ways with another 155 employees, leaving the current Theranos headcount at 220.
"These are always the most difficult decisions," the company's official statement said, "however, this move allows Theranos to marshal its resources most efficiently and effectively."
Today's restructuring caps off a terrible 2016 for CEO Elizabeth Holmes and company. After the company's innovative blood test and Edison testing machine turned out to be too good to be true and possibly based on junk science, the company spent the latter part of 2016 fending off multiplelawsuits from investors and its retail partners at Walgreens.
Last month, the company also announced a new leadership team and reshuffled its Board of Directors to help steer the company back on track as it works to develop a new testing platform called miniLab.
Reuters/Brendan McDermid via Engadget
Entrepreneur Editors' Picks
-
Crypto Doesn't Have to Be Serious. Just Ask This Comedian Who Organized a Conference About Failure in the Industry.
-
Want to Succeed? Turn Your Fixed Mindset Into a Growth Mindset.
-
Google's CEO Is Asking Employees 3 Simple Questions to Boost Productivity
-
'Greatest Storyteller Wins.' Katy Perry on the Surprising Link Between Pop Stardom and Entrepreneurship.
-
How to Unleash Your Creativity and Transform Your Marketing Strategy
-
The 5 Personalities You Meet in a Coworking Space
-
'Man's Best Friend' — and Investment: The Thriving Industry of Pet-Related Franchising
