23andMe Announces Business Restructuring to Streamline Operations, Reduce Costs and Position Company for the Future
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23andMe Holding Co. (Nasdaq: ME) announced a major business restructuring, reducing its workforce by 40% and discontinuing its therapeutics division. The company expects to save over $35 million annually.
November 11, 2024 | 10:45 pm
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23andMe is undergoing a significant restructuring, cutting 40% of its workforce and discontinuing its therapeutics division, aiming for over $35 million in annual cost savings.
The restructuring is a major move for 23andMe, indicating a shift in focus and potential for improved financial performance due to cost savings. The market may react positively to the cost-cutting measures and strategic refocus.
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