23andMe cuts 40% of its workforce and discontinues therapeutics division

23andMe is laying off 40% of its workforce, or more than 200 employees, and discontinuing its therapeutics division as the struggling genetic testing company attempts to slash costs

Health - ABC News - Yesterday

23andMe to slash 40% of its workforce, end therapeutics program to cut costs

DNA-testing company 23andMe Holding Co. will slash its workforce by about 40% and discontinue its therapeutics program as part of a restructuring effort to cut costs, the company said Monday.

Business - MarketWatch - 2 days ago

Genetic testing firm 23andMe cuts 40% of its workforce amid financial struggles

Company says it will cut about 200 employees as value plummets in aftermath of huge data breach. The genetic testing firm 23andMe said on Monday it would cut about 40%, or 200 employees, from its ...

World - The Guardian - 2 days ago

23andMe to lay off 40% of its workforce as stock price plummets

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 ...

23andMe reports sales decline a day after announcing plans to cut 40% of workforce

Embattled genetic testing provider 23andMe said Tuesday that revenue declined from a year earlier, a day after the company announced a cost-cutting plan.

Business - CNBC - Yesterday

Sage Therapeutics’ stock falls 4.7% as biotech unveils plan to cut 33% of workforce

More than 165 jobs to go as company seeks to extend cash runway and focus on postpartum drug launch.

Business - MarketWatch - October 17

DNA-testing site 23andMe to lay off 40% of its workers

The once-popular general DNA-testing firm holds a trove of sensitive genetic data from its customers.

23andMe Lays Off 40 Percent of its Staff, Ends All Therapy Programs

As founder and CEO Anne Wojcicki struggles to take the company private, 200 jobs are cut as part of its restructuring plan.

Business - Inc. - 2 days ago

McKinsey Cuts Hundreds From China Workforce

The consulting firm is cutting back on state-linked clients and is working to separate its China operations

Business - The Wall Street Journal - October 17

Beyond Inc. to Cut Workforce by About 20%

Beyond Inc. is cutting about 20% of its workforce as part of broader review of its cost structure, which comes after the company invested about $65 million in two retailers to help restore Bed Bath ...

Business - The Wall Street Journal - October 22

Dropbox to cut 20% of workforce as it moves to boost growth

Dropbox Inc.’s stock rose 3.9% Wednesday after the online-storage platform said it expects third-quarter earnings to meet or beat guidance for revenue and other metrics but also said it’s cutting ...

Business - MarketWatch - October 30

23andMe Lays Off 40% of Staff, Shuts Drug Development Business

The genetics company is closing a unit that was once seen as core to its future.

Business - The Wall Street Journal - 2 days ago

23andMe warns of ‘substantial doubt’ over its survival without new funding

Once-hyped genetic start-up issues latest guidance after reporting further quarterly revenue declines

Business - Financial Times - 2 days ago

Airbus to cut up to 2,500 jobs in defence and aerospace division

World - Yahoo News - October 16

Georgia prepares for a divisive election which could determine its future in Europe

The South Caucasus country of Georgia will go to the polls Saturday in a parliamentary election many citizens believe may be the most crucial vote of their lifetimes

World - ABC News - October 25

23andMe’s stock falls after company says there’s substantial doubt it can stay in business

Shares of 23andMe fell 4% Tuesday after the DNA-testing company reported its latest quarterly loss and included “going concern” language in its financial statements, shedding gains made late Monday ...

Business - MarketWatch - Yesterday

Hong Kong cuts liquor tax in an effort to reignite its nightlife industry

Hong Kong’s leader has announced a cut in liquor taxes as the Asian financial hub hopes to revive its reputation as a travel destination with a vibrant nightlife and dining scene

World - ABC News - October 16

The Fed Looks Like It Made a Mistake With Its Jumbo Rate Cut

Strong economic data and a still-hot economy has made some experts wonder whether the central bank made the right call with its jumbo rate cut.

Business - Inc. - October 18

Japanese automaker Nissan cuts 9,000 jobs as its vehicles fail to sell

Nissan is reporting a loss for the latest fiscal quarter as its vehicle sales sank while costs and inventory ballooned

World - ABC News - November 7

Inside the fall of 23andMe

Once worth $6 billion, 23andMe has lost 98% of its value and is on the verge of being delisted from the Nasdaq. So what happened?

Business - CNBC - October 23

European Central Bank cuts its main interest rate by a quarter-point to 3.25% as inflation falls below its target

World - ABC News - October 17

Oil could plunge to $40 in 2025 if OPEC unwinds voluntary production cuts, analysts say

Many market watchers predicted a bearish year ahead for crude.

Business - CNBC - Yesterday

Man United makes its worst league start in almost 40 years after 1-1 draw with Chelsea

Moises Caicedo’s stunning long-range volley has secured a 1-1 draw for Chelsea against Manchester United in the Premier League

Sports - ABC News - November 3

Merger activity is down 40% from its peak. Citigroup CEO Jane Fraser sees a ‘big unlock’ ahead.

The future could see more megamergers, middle-market deals and initial public offerings.

Business - MarketWatch - Yesterday

Starbucks will discontinue Oleato olive oil drinks at U.S. cafes in early November

New CEO Brian Niccol has pledged to simplify the Starbucks menu.

Business - CNBC - October 30

Starbucks will discontinue Oleato olive oil drinks at U.S. cafes

Starbucks’ controversial line of olive oil-infused drinks will leave U.S. stores in early November.

23andMe succumbs to a dismal genetic destiny

Was it nature or nurture? In the unhappy case of a DNA testing company and its sliding share price, the answer is both

Business - Financial Times - October 16

Fed goes quiet ahead of its Nov. 7 meeting, with quarter-point cut seen as likely

The central bank isn’t likely to change its mind, even with two key data points and presidential election coming before their meeting, economists said

Business - MarketWatch - October 28

Ryanair warns air travel tax rises mean 10% of its UK flights could be cut

CEO Michael O’Leary says decision to raise passenger duty ‘will deliver cuts, not growth’

Business - Financial Times - November 1

Sweden cuts its key rate by 0.5 percentage points to 2.75%, the largest reduction in over a decade

Sweden’s central bank has cut its key interest rate by half a percentage point to 2.75% in what was described as the largest reduction in over a decade

World - ABC News - November 7

Dutch appeals court overturns landmark ruling that ordered energy firm Shell to cut its carbon emissions by 45% by 2030

World - ABC News - 2 days ago

Tech giants are investing in 'sovereign AI' to help Europe cut its dependence on the U.S.

Tech giants are investing in the development of "sovereign" AI models in Europe to reduce the region's dependence on largely U.S.-controlled infrastructure.

Business - CNBC - 10 hours ago

EY slims workforce for first time in 14 years

Slowdown in demand for consulting services leads Big Four accounting firm to post weakest revenue growth since 2010

Business - Financial Times - October 17

Men over 70 are flooding back into the workforce

The headline figure of 12,000 jobs from the latest labor-market report is getting all the attention — but as usual, the much more interesting stuff is buried in the fine print.

Business - MarketWatch - November 2

DNA-testing site 23andMe fights for survival

Once millions used it to find out about their family histories - this week it was almost delisted. What went wrong?

Watch: Biden speaks at White House workforce summit

President Biden, with just over two months left in office, spoke at a White House event Wednesday focused on the administration's "Investing in America" agenda. Biden and first lady Jill Biden are ...

Politics - The Hill - Yesterday

‘Robot revolution’ forces China’s human workforce to adapt

Factory machinery is evolving fast. Can the workers who will use it keep up?

World - Financial Times - 15 hours ago

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