Home DNA testing services provider 23andMe (DNA) plans to terminate 100
people, 14% of its workforce, in response to weakening sales. Most of
the cuts will affect operations teams that were focused on growth and
scaling efforts.
CEO Anne Wojcicki says she has been surprised with the market’s softness, adding that privacy concerns could be a factor.
The first indication of a slowdown surfaced this
past summer when DNA sequencing gear maker Illumina CEO Francis deSouza
said, during an earnings call, that the entire market was down. Its
customers include 23andMe.
Molecular diagnostic firms down today: Anixa Biosciences (ANIX -5.2%), Guardant Health (GH -2.4%), Biocept (BIOC -1.6%), Precipio (PRPO -0.6%)
https://seekingalpha.com/news/3534047-23andme-to-cut-14-of-staff-business-slows
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