The once-high-flying firm has been beset by challenges since going public via a SPAC merger in 2021. Here’s the latest. DNA-testing company 23andMe (Nasdaq: ME), once an industry leader that attracted millions of customers,

The struggling genetic testing company 23andMe says it will cut 40% of its workforce, or 200 jobs, as it fights for survival.The once-popular DNA-testing site will also halt work on therapies it was developing.

The genetic testing company 23andMe is cutting 40% of its workforce and ending its therapeutics program as its stock price continues to plummet. CBS News correspondent Carter Evans has more on what this means for its customers.

The genetic testing company 23andMe announced it was laying off more than 200 employees, or roughly 40% of its entire workforce, according to a press release Monday. The move is part of a restructuring that will see the company also halt the development of its therapeutics division which had been working on various potential medical treatments.

The genetic testing company 23andMe hasn't been doing so hot lately, watching its share price plummet more than 70% this year, and CEO Anne Wojcicki has desperately been trying to right the ship. Now,

More than 200 employees of 23andMe are being laid off as part of the company’s ongoing cost-cutting measures. The layoffs will impact 40 percent of the genetic testing companys

The restructuring arrives during a period of turmoil at California-based 23andMe, which has recently included a high-profile data breach.