23andMe to slash 40% of its workforce, end therapeutics program to cut costs
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23andMe Holding Co. is cutting 40% of its workforce and ending its therapeutics program to reduce costs as part of a restructuring effort.
November 12, 2024 | 1:00 am
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23andMe is undergoing a major restructuring, cutting 40% of its workforce and ending its therapeutics program to reduce costs.
The decision to cut 40% of the workforce and end the therapeutics program indicates significant cost-cutting measures, which may lead to short-term negative sentiment among investors. The restructuring could be seen as a response to financial challenges, potentially impacting the stock price negatively in the short term.
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