CEO Anne Wojcicki stated, "We are taking these difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships." This reflects the company's commitment to realignment despite the challenging circumstances.
The move to restructure 23andMe and cut costs comes after significant turmoil, including a 99% decrease in valuation since the company's IPO in 2021 and a major data breach affecting nearly 7 million customers.
The resignation of all independent board members has further complicated matters for 23andMe, indicating significant internal discord concerning the company's future direction, especially given Wojcicki's substantial voting power.
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