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Theranos slashes 41 pct of workforce
January 6, 2017 / 8:09 PM / a year ago

Theranos slashes 41 pct of workforce

Jan 6 (Reuters) - Theranos Inc said on Friday it would cut 155 jobs, or about 41 percent of its workforce, as the once Silicon Valley darling shifts away from its troubled blood testing devices.

The company said it was working towards commercialization of its "minilab" product, which can run a broad range of tests on a single desktop machine, and had identified a core team of 220 professionals to execute on its business plans. (

Founded by Elizabeth Holmes in 2003, the company made waves with testing devices that promised quicker results using just one drop of blood.

However, concerns were raised after the Wall Street Journal published a series of articles, starting in October 2015, that suggested the devices were flawed and inaccurate.

The latest job cuts comes three months after the embattled company said it would lay off about 340 workers as it closes its clinical labs and Theranos Wellness Centers, which signaled a withdrawal from the consumer blood-testing business. (Reporting by Ankur Banerjee in Bengaluru; Editing by Sriraj Kalluvila)

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