In a significant move to stabilize its operations, 23andMe has announced the layoff of 200 employees, representing a staggering 40 percent of

More than 200 employees of 23andMe are being laid off as part of the company’s ongoing cost-cutting measures. The layoffs will impact 40 percent of the genetic testing company’s workforce. 23andMe CEO and co-founder Anne Wojcicki said in a statement released on Monday that the staff reduction would save the beleaguered company more than $35 million.

The DNA testing kit company is also discontinuing new developments to its therapeutics program, which has been focused on using customers’ DNA data to aid in drug discovery.

Genetics testing company 23andMe is trimming its headcount by 40%. The company said it is undergoing a restructuring to "streamline operations and reduce costs."

Me announced on Monday it would cut 40% of its workforce, representing more than 200 employees, as part of a restructuring at the company. “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,