23andMe Holding Co - Ordinary Shares - Class A Stock News

23andMe Holding Co. (NASDAQ:ME ) Q2 2025 Earnings Conference Call November 12, 2024 4:30 PM ET Company Participants Katie Watson - Vice President, Communications Anne Wojcicki - Chief Executive Officer & Co-Founder Joe Selsavage - Chief Financial Officer & Chief Accounting Officer Conference Call Participants Operator Good day, and thank you for standing by. Welcome to the 23andMe Fiscal Year 2...

23andMe announced on Monday it would cut 40% of its workforce, representing more than 200 employees, as part of a restructuring at the company. The genetic testing company is also discontinuing its therapeutics business and winding down its clinical trials; it expects these changes to save $35 million annually.

DNA-testing company 23andMe (Nasdaq: ME), once an industry leader that attracted millions of customers, including rapper Snoop Dogg and investor Warren Buffett, has announced significant cuts to its operations, with plans to lay off 200 employees, or roughly 40% of its workforce. The company also said it will discontinue development of its therapeutic programs.

23andMe on Tuesday reported that second-quarter revenue fell to $44.1 million from $50 million a year earlier. The embattled genetic testing company said Monday that it's cutting about 200 jobs, or about 40% of its workforce, and discontinuing its therapeutics programs.

Company says it will cut about 200 employees as value plummets in aftermath of huge data breach

Stock had gained late Monday on news it would cut 40% of its workforce as part of a restructuring.

Genetic testing firm 23andMe announced plans to cut 40% of its workforce, or around 200 jobs, as part of a cost-saving effort aimed at stabilising the company. It will also halt work on its therapy development projects, exploring options to license or sell them.

The genetics company is closing a unit that was once seen as core to its future.