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Theranos is laying off another 155 employees

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Theranos is laying off another 155 employees

Theranos is laying off another 155 employees*/

– “These are always the most difficult decisions,” the company’s official statement said, “however, this move allows Theranos to marshal its resources most efficiently and effectively.”Today’s restructuring caps off a terrible 2016 for CEO Elizabeth Holmes and company.After the company’s innovative blood test and Edison testing machine turned out to be too good to be true and possibly based on junk science, the company spent the latter part of 2016 fending off multiple lawsuits from investors and its retail partners at Walgreens.
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Theranos is laying off 155 people, leaving it with 25% of its staff — Quartz

Theranos is laying off 155 people, leaving it with 25% of its staff — Quartz*/

– In 2015, Stanford Business School published a fawning interview with Elizabeth Holmes, founder and CEO of Theranos, the now-discredited biotech company that claimed to have invented cheap, effective, and revolutionary blood-testing technology.In the interview, Holmes said her road to success “wasn’t weighted by influences that I couldn’t do it,” and, perhaps most tellingly, said would-be billionaires should avoid backup plans: “I think that the minute that you have a backup plan, you’ve admitted that you’re not going to succeed.”Oh well.That thinking on Jan. 6 resulted in the announcement of 155 layoffs (paywall)—40% of the company’s staff.
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