Theranos Eliminates 155 Employees

By Tonya Garcia Markets MarketWatch Pulse

Theranos Inc. announced Friday that it has cut 155 of its core employees as it tries to commercialize its miniLab testing platform. It will keep 220 staffers. Teams have been organized around product development, regulatory and commercial benchmarks, the company said on Friday. Theranos is involved in a number of lawsuits, including a $140 million case filed by Walgreens Boots Alliance Inc. alleging breach of contract, the fallout from infractions discovered at the blood-testing company's lab last year, as the Wall Street Journal reported. Theranos was valued at $9 billion at its peak in 2014.

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