"Theranos" to close labs and Wellness Centers read more at here www.spinonews.com/index.php/item/1160-theranos-to-close-labs-and-wellness-centers

Theranos is closing its labs and wellness centers, CEO Elizabeth Holmes announced today in a post on the company blog.

“After many months spent assessing our strengths and addressing our weaknesses, we have moved to structure our company around the model best aligned with our core values and mission,” Holmes wrote.

 

We are profoundly grateful to these team members, many of whom have devoted years to Theranos and our mission, for their commitment to our company and our guests, Holmes said.

Theranos today said that it’s closing down clinical labs and Theranos Wellness Centers and thus cutting 340 employees in Arizona, California, and Pennsylvania. It had 790 employees in August, meaning the layoffs affect 43 percent of the company’s workforce. 

The company is now facing numerous lawsuits, was forced to shut down it’s California lab facility, lost its main partner Walgreens and was subject to a Congressional inquiry.