The genetic testing company 23andMe is struggling and will cut 40% of its workforce, or 200 jobs. The company will also stop working on therapies it was developing. Last year, hackers got into the personal information of millions of users. The company’s share price has dropped a lot this year. The CEO, Anne Wojcicki, is trying to make the company better.
The company will spend $12m (£9.3m) on the plan and save $35m. Ms Wojcicki said they are making these tough decisions to focus on the long-term success of the business. They are thinking about what to do with the therapies they were working on. 23andMe offers genetic testing for ancestry and health. Famous people like rapper Snoop Dogg and investor Warren Buffet use their services. Hackers accessed information from about 6.9 million users last year, but not DNA records. Authorities are investigating the breach.
In September, seven board members resigned after not getting a good buyout offer.
Vocabulary List:
- Struggling /ˈstrʌɡ.əl.ɪŋ/ (adjective): Having difficulty or facing challenges.
- Therapies /ˈθɛrəˌpiːz/ (noun): Treatments aimed at alleviating a condition or disease.
- Investigating /ɪnˈvɛstɪɡeɪtɪŋ/ (verb): Carrying out an inquiry to discover and examine the facts.
- Breach /briːtʃ/ (noun): An act of breaking or failing to observe a law or code.
- Long-term /lɔːŋ tɜːrm/ (adjective): Relating to or lasting over a considerable period of time.
- Workforce /ˈwɜːrkˌfɔːrs/ (noun): The workers engaged in a specific activity or enterprise.
