Theranos Closes Blood-Testing Facilities, Cuts 340 Workers

Theranos has announced that it will close its blood-testing facilities.

In an Oct. 5 open letter to stakeholders, CEO Elizabeth Holmes said the company will close its clinical labs and Theranos Wellness Centers, which will impact about 340 employees in Arizona, California, and Pennsylvania – roughly one-fourth of the company’s workforce.

“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 said, adding that the company will be focusing on its new miniLab platform. — Tamra Sami