• Safi Bello

Theranos reportedly lays off most of its remaining employees as it tries to avoid bankruptcy

Techcrunch ---------- The death spiral of blood-testing startup Theranos just became even more real today for the bulk of its remaining employees. The Wall Street Journal reports that the company has laid off the majority of its staff as part of a “last-ditch effort” to save cash and avoid bankruptcy. The layoffs have taken the staff from 125 to less than two dozen, the report says. Holmes announced the layoffs to staff at an all-hands meeting today in the company’s Newark, Calif. offices. This spartan crew has been whittled down following round after round of layoffs as customers and regulators have wised up to the lies that the company has been publicly sharing. After once maxing out at nearly 800 employees in late 2016, the company now stands as a skeleton of its former self, though for the company’s leadership this represents an inevitability that is the least of their problems. To learn more click on the picture below to read the article.

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