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23andMe files for bankruptcy, CEO steps down
Major news.
"Any buyer will be required to comply with applicable law with respect to the treatment of customer data and any transaction will be subject to customary regulatory approvals," the company said in its announcement. 23andMe announced plans in November 2024 to lay off about 40 percent of its employees as part of a restructuring program, as well as discontinuing further development of its testing technology. "After a thorough evaluation of strategic alternatives, we have determined that a court-supervised sale process is the best path forward to maximize the value of the business," said Mark Jensen, chair and Special Committee member, in a press statement.
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