Genetic testing firm 23andMe cuts 40% of its workforce amid financial struggles

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

The genetic testing firm 23andMe said on Monday it would cut about 40%, or 200 employees, from its workforce and discontinue further development of all its therapies as part of a restructuring program.

We are taking these difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships," said the company's CEO, Anne Wojcicki.