Theranos, the hubristic firm that promised efficient blood-testing—and which was revealed by degrees to be writing checks its technology couldn’t cash—still employed approximately 125 people earlier this week. As of today, according to The Wall Street Journal, than number is now “two dozen or fewer.”
Led by CEO Elizabeth Holmes, Theranos spent its first decade in “stealth mode,” arriving on the scene as a much-hyped solution to blood-testing that alleged to be portable, accurate, and capable of gleaning its data from only a finger prick. Revelations in the press—stemming largely from the Journal—unraveled the firm’s lofty and undeliverable promises.
Last month, the SEC charged Theranos, Holmes, and former president Ramesh Balwani with “massive” fraud. As a result, Holmes relinquished majority control of the company and is not allowed to serve as officer of a public company for a decade. Due to a prior citation, she also cannot operate a lab for two years.
This round of layoffs follows the company shedding nearly half its staff last January. We’ve reached out to Theranos to learn what areas of the company were and were not affected by the layoffs and will update if we hear back.