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Theranos starts 2017 by firing 40% of its staff

January 10, 2017

Via: CNBC
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Theranos has announced its latest round of job cuts, firing 155 employees to leave a “core team” of just 220. The news was first reported by Bloomberg, and later confirmed by the startup.

It says the move was “difficult,” but that it allows the company to focus on the commercialization of a new tabletop blood-testing product named the miniLab.

This bluster aside, the fall of Theranos has been swift after a series of reports in 2015 revealed that its proprietary technology was unreliable. Independent studies later confirmed this, and in July last year Theranos CEO Elizabeth Holmes was banned from operating labsin the US for two years.

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