Top

Theranos closes labs, testing centers in dramatic downsizing

October 7, 2016

Via: CNBC
Category:

Embattled blood-testing start-up Theranos will close all its clinical labs and Wellness Centers, chief executive Elizabeth Holmes revealed in apublic letter to “stakeholders.”

The move came after months spent “assessing our strengths and addressing our weaknesses,” she said in the letter that outlined a new focus for the former Silicon Valley darling.

The closures would impact about 340 workers in Arizona, California and Pennsylvania, “many of whom have devoted years to Theranos and our mission,” Holmes said. Reuters reported that this was a 44 percent staffing cut, with the company employing about 790 full-time workers.

Read More on CNBC