23andMe cuts 40% of its workforce [FOX Business Network]
23andMe Holding Co. (ME)
Company Research
Source: FOX Business Network
The job cuts come as 23andMe seeks to undergo a restructuring that the company said will "streamline operations and reduce costs." "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. The company said the restructuring will cost up to $12 million. Overall, the company will see over $35 million in annualized savings from the restructuring and its associated "substantially" reduced operating expenses. 23andMe also said its therapeutics development will end. Ticker Security Last Change Change % ME 23ANDME HOLDING CO Powered By For a "limited time," the company said it will look at "strategic options" like licensing agreements, asset sales and transactions to "maximize the value of its therapeutics program." 23andMe noted there "can be no assurance that the strategic alternatives process for the therapeutics assets will
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News
- Do Redditors Think That 23andMe Holding Co. (ME) Has a Big Upside Potential? [Yahoo! Finance]Yahoo! Finance
- 23andMe and Mirador Therapeutics Enter Into Strategic Research Collaboration to Advance Mirador’s Precision Medicines for Immunology & InflammationGlobeNewswire
- 23andMe Holding Co (ME) Q2 2024 Earnings Call Highlights: Navigating Challenges with Strategic ... [Yahoo! Finance]Yahoo! Finance
- 23andMe Reports Second Quarter Fiscal Year 2025 Financial ResultsGlobeNewswire
- 23andMe Announces Business Restructuring to Streamline Operations, Reduce Costs and Position Company for the FutureGlobeNewswire
ME
Sec Filings
- 11/21/24 - Form 4
- 11/15/24 - Form 144
- 11/15/24 - Form 144
- ME's page on the SEC website