Today, Theranos Inc. announced further re-engineering of the company’s operations as it works towards commercialization of the miniLab testing platform and its related technologies. In the streamlined organization, teams have been aligned to meet product development, regulatory and commercial milestones.
As a result, the company has identified a core team of 220 professionals to execute on its business plans, and informed 155 employees that their positions have been eliminated. These are always the most difficult decisions; however, this move allows Theranos to marshal its resources most efficiently and effectively.
The restructuring follows a period of significant change at the company that has included the building out of its executive team with substantial additional regulatory, compliance and operational expertise.