Theranos, the blood-testing startup that was once the darling of Silicon Valley, is cutting hundreds of jobs and closing its clinical labs and wellness centers.
The announcement came Wednesday in an open letter from Elizabeth Holmes, the company's embattled CEO.
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"After many months spent assessing our strengths and addressing our weaknesses, we have moved to structure our company around the model best aligned with our core values and mission," she said.
The open letter from founder Elizabeth Holmes essentially shuts down the company's consumer-facing business.
The company led by Elizabeth Holmes will shut down facilities and shed more than 40% of its workforce as it shifts to developing products for outside labs.
In an open letter to investors on Wednesday, Theranos founder Elizabeth Holmes announced that the company was shuttering all of its labs and wellness centers, “impacting” around 340 employees—presumably by putting them out of work. ...
Embattled medical testing company Theranos today said that it’s closing down clinical labs and Theranos Wellness Centers and thus cutting 340 employees in Arizona, California, and Pennsylvania. It had 790 employees in August, meanin...