Theranos

Theranos Is Laying Off Another 155 Employees

The company's 'core team' will continue development of a new miniLab.
Theranos Is Laying Off Another 155 Employees
Image credit: Reuters/Brendan McDermid via Engadget
Theranos CEO Elizabeth Holmes
1 min read
This story originally appeared on Engadget

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.

More from Entrepreneur

Are paying too much for business insurance? Do you have critical gaps in your coverage? Trust Entrepreneur to help you find out.
Get Your Quote Now

One-on-one online sessions with our experts can help you start a business, grow your business, build your brand, fundraise and more.
Book Your Session

Whether you are launching or growing a business, we have all the business tools you need to take your business to the next level, in one place.
Enroll Now

Latest on Entrepreneur

My Queue

There are no Videos in your queue.

Click on the Add to next to any video to save to your queue.

There are no Articles in your queue.

Click on the Add to next to any article to save to your queue.

There are no Podcasts in your queue.

Click on the Add to next to any podcast episode to save to your queue.

You're not following any authors.

Click the Follow button on any author page to keep up with the latest content from your favorite authors.

Elon Musk's Flamethrowers End up on eBay and Brands Throw Shade at IHOb! Here Are 3 Things to Know Today.