Blood-testing startup Theranos to lay off 41% of staff

Blood-testing startup Theranos Inc. announced plans to lay off 41 percent of its staff.

The Silicon Valley company said it will eliminate 155 positions, leaving 220 employees to work on a new tabletop blood-testing device called the miniLab. In October, it fired 340 workers and announced it would close its clinical labs and consumer outlets in Arizona, California and Pennsylvania.

"These are always the most difficult decisions; however, this move allows Theranos to marshal its resources most efficiently and effectively," the company said in a statement Friday.

Theranos, formed in 2003 as a maker of cheaper, more efficient alternatives to traditional medical tests, has been troubled in recent years.

In 2016, U.S. inspectors determined the company had marketed inaccurate blood tests, endangering patients, and banned Chief Executive Officer Elizabeth Holmes from owning or running a clinical lab for two years.

Holmes, who started Theranos when she was 19, is appealing the ban.

Investors and Walgreens, once the company's biggest partner, are suing Theranos.

Theranos had signed a partnership agreement to put its testing centers in Walgreens Boots Alliance Inc. stores, mainly in Arizona.


Sen. Ted Cruz attends campaign event in Boone, IowaTuring CEO Martin Shkreli arrves at Federal CourtHillary Clinton attends campaign event in Toledo, IowaFirst Family participates in the lighting of the National Christmas TreePresident Barack Obama speaks at the Righteous Among the Nations Award CeremonySuper Bowl 50 City opens in San FranciscoPresident Barack Obama speaks at the University of Nebraska OmahaFBI invetigates San Bernardino mass killing as an act of terrorAntonin Scalia lies in repose in Supreme CourtHillary Clinton attends campaign event in Des Moines, IowaRally Calling for an End to the Blockade on Gaza.President Barack Obama Participates in Town Hall Event Anderson Cooper Speaker Paul Ryan delivers remarks at the National Prayer Breakfast
Follow us:

Share Hotspot Shield with your friends and family!


Copyright © 2014 AnchorFree, Inc. All Rights Reserved