Blood-testing company Theranos today announced that it has cut 41 percent of its workforce, less than three months after laying off 43 percent of its employees.
Today’s move affects more than 150 people.
Theranos is now working toward “commercialization of the miniLab testing platform and its related technologies,” the startup said in a statement. “In the streamlined organization, teams have been aligned to meet product development, regulatory and commercial milestones.”
In October, Theranos founder Elizabeth Holmes said the company would be returning its “undivided attention” to the miniLab and closing its wellness centers and labs.
Founded in 2003, and backed by the likes of Larry Ellison and Draper Fisher Jurvetson, Theranos was considered a candidate for an initial public offering (IPO) in 2015, but then came a series of reports — particularly from the Wall Street Journal — that raised doubts about the company’s practices. Partner Walgreens ended its relationship with Theranos and later filed suit against the company for breach of contract.