I struggling genetic testing company 23andMe says it will cut 40% of its workforce, or 200 jobs, as it fights to survive.
The once popular DNA testing site will once again stop the medical work it has been doing.
Last year, the company said hackers were able to get access to the personal information of millions of its users.
23andMe’s stock price has fallen more than 70% this year, as its founder and CEO Anne Wojcicki tries to turn the business around.
The company said it expects to incur one-off costs of $12m (£9.3m), including severance pay, on the plan which will result in savings of $35m.
“We are taking these difficult but necessary steps as we rebuild 23andMe and focus on the long-term success of our core consumer business and research relationships,” said Ms. Wojcicki.
The company also said it is considering what it will do with the remedies it had in development, including licensing or selling them.
23andMe is a giant in the growing genealogy industry. It offers genetic testing from DNA, with ancestry classification and personal health information.
In December of last year, 23andMe confirmed that hackers had obtained the information of about 6.9 million of its users.
In some cases this includes family trees, birth years and locations, the company said. But the stolen data did not include DNA records, he said.
Its clients include famous names, from rapper Snoop Dogg to billionaire investor Warren Buffett.
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