FEELING THE PINCH

Theranos to Lay Off 40% of Workers

Theranos, the troubled blood-testing startup founded by entrepreneur Elizabeth Holmes, said Wednesday that it would close labs and wellness centers and lay off 340 workers. Holmes said in a letter that the company would instead focus on a new MiniLab that allows for testing of blood on-site. “Our ultimate goal is to commercialize miniaturized, automated laboratories capable of small-volume sample testing, with an emphasis on vulnerable patient populations, including oncology, pediatrics, and intensive care,” Holmes wrote. Theranos had some 790 employees at the beginning of August.