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Market
What will be 23andMe's new market focus by mid-2025?
2
Resolution / Starting Odds
Ancestry services • 25%
Health-related genetics services • 25%
Personalized wellness products • 25%
Other • 25%
23andMe's public announcements or press releases
Story
23andMe to Lay Off 200 Employees, Discontinue Therapeutics to Focus on Core Genetics Business
Nov 12, 2024, 12:41 AM
Genetic testing company 23andMe announced plans to lay off 40% of its workforce, or roughly 200 employees, incurring up to $12 million in one-time costs as part of a restructuring effort to streamline operations and reduce costs. The firm will discontinue its therapeutics division, effectively exiting the drug development business, to focus on its core consumer genetics offerings. The decision marks a significant shift for the company, which had previously embarked on drug discovery initiatives leveraging its vast genetic data.
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