After its entire board resigned overnight, 23andMe will cut over 200 employees and its cancer research in an urgent bid to nurse the company back to health [Fortune]
Envestnet, Inc (ENV)
Last envestnet, inc earnings: 2/20 04:05 pm
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Source: Fortune
The company will lay off 40% of its workforce, over 200 employees, and cull its therapy programs that include cancer-treatment research, part of a massive restructuring plan announced Monday. “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,” CEO Anne Wojcicki said in a statement. The announcement comes less than two months after 23andMe's board resigned en masse , exacerbating the company's freefall status. Its previous board members, including Sequoia Capital's Roelof Botha and YouTube CEO Neal Mohan , wrote in their resignation letter in September they disagreed with Wojcicki's strategic direction for the company, including her plans to take the company private after its $6 billion valuation in 2021—its peak—plummeted to a market cap of just $150 million around their departure. The company, which became wildly popular in 2017 due to a boom in direct-to-cons
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News
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- Envestnet, Inc. (NYSE: ENV) is now covered by analysts at StockNews.com. They set a "sell" rating on the stock.MarketBeat
- Why Envestnet (ENV) is a Top Growth Stock for the Long-Term [Yahoo! Finance]Yahoo! Finance
ENV
Earnings
- 11/7/24 - Beat
ENV
Sec Filings
- 11/25/24 - Form 4
- 11/25/24 - Form SC
- 11/25/24 - Form 4
- ENV's page on the SEC website