Theranos Cutting 155 Positions

 

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Theranos headquarters in Palo Alto.

Controversial blood-testing firm Theranos announced it would cut an additional 155 positions at the company.

In a statement, Theranos said it is re-engineering the company’s operations as it works towards commercialization of the miniLab testing platform and its related technologies. In the streamlined organization, the company is aligning teams to meet product development, regulatory and commercial milestones.

The company is retaining a core team of 220 professionals to work on its business, and informed 155 employees that their positions have been eliminated.

The Palo Alto-based firm had also cut 340 jobs last October and has been reeling over accusations that its blood-testing machines don’t work.

CEO and founder Elizabeth Holmes has been banned from running a blood-testing lab for two years by the federal government and the company is facing lawsuits from investors including Walgreens which closed Theranos testing labs in its stores last year.