According to an article by Christina Farr in the CNBC news web site at https://cnb.cx/30Piet9:
23andMe is laying off 100 people, or 14% of its staff, mostly from its operations team, as consumer DNA tests are down.
CEO Anne Wojcicki didn’t have a clear explanation for that, but cited a variety of factors, including both recession fears and privacy concerns.
Wojcicki said she anticipated that DNA testing would explode when she co-founded the business in 2007, but is now looking ahead to a retracting market.
Wojcicki has theories, but she doesn’t have clear proof for why consumers are shying away from getting tests that reveal their percentage of Irish heritage, propensity for a favorite ice cream flavor, or whether they have a limited set of variants that are associated with breast cancer. Either way, she notes, she’s downsizing because it’s “what the market is ready for.”
“This has been slow and painful for us,” she said. She acknowledges that “privacy is top of mind” both for consumers and her executive team.
You can read the full story at: https://cnb.cx/30Piet9.
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Categories: Business News, DNA
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