Theranos cuts most of its remaining workforce

Beleaguered blood testing company Theranos Inc. reportedly laid off most of its remaining workers on Tuesday as it clings to the last hopes of surviving the scandals that have decimated it over the past two-and-a-half years. The Wall Street Journal cited unnamed sources who said that founder Elizabeth Holmes announced the cuts in an all-staff meeting in its Newark, California, offices, where the company has based its manufacturing. The cuts represent "a last-ditch effort to preserve cash and avert…
Source: bizjournals.com Health Care:Biotechnology headlines - Category: Biotechnology Authors: Source Type: news