23andMe Cuts 40% of Workforce, Shuts Down Therapeutics Unit

The genetic testing company faces a major restructuring following financial struggles and a significant data breach.

23andMe is laying off over 200 employees as part of a cost-cutting restructuring plan aimed at saving $35 million annually.
The company will discontinue its therapeutics division, which was focused on developing cancer treatments using genetic data.
A 2023 data breach exposed the personal information of 6.9 million users, leading to a $30 million settlement and ongoing investigations.
The company has struggled financially since going public in 2021, reporting a net loss of $667 million for the last fiscal year.
CEO Anne Wojcicki is attempting to take the company private, but faced the resignation of all independent board directors in September.