Theranos Lays Off 40% of Remaining Workers

Embattled firm is focusing on new device
By Rob Quinn,  Newser Staff
Posted Jan 7, 2017 9:05 AM CST
Elizabeth Holmes, founder and CEO of Theranos, speaks at the Fortune Global Forum in San Francisco, Monday, Nov. 2, 2015.   (AP Photo/Jeff Chiu)
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(Newser) – In what Theranos is calling a a "further re-engineering of the company's operations," the company is firing around 40% of its employees just a few months after another huge round of job cuts. The firm, which is battling sanctions and numerous lawsuits over problems with its pinprick blood-testing technology, says 155 jobs have been cut and the remaining 220 employees will focus on developing its experimental miniLab tabletop blood-testing device, the Los Angeles Times reports. "This move allows Theranos to marshal its resources most efficiently and effectively," the company said in a statement. The company says it has also reshaped its management team to bring in more people with health-care industry experience, Bloomberg reports. (Read more Theranos stories.)

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