Excitement in the consumer genetic testing market continues to show signs of slowing down.
In the past two weeks layoffs have hit two of the biggest consumer genetic testing services — 23andme and Ancestry — with the latter announcing that it would slash its staff by 6% earlier today, in a blog post.
In her blogpost announcing the layoffs, Ancestry chief executive Margo Georgiadis wrote:
… over the last 18 months, we have seen a slowdown in consumer demand across the entire DNA category. The DNA market is at an inflection point now that most early adopters have entered the category. Future growth will require a continued focus on building consumer trust and innovative new offerings that deliver even greater value to people. Ancestry is well positioned to lead that innovation to inspire additional discoveries in both Family History and Health.
Today we made targeted changes to better position our business to these marketplace realities. These are difficult decisions and impact 6 percent of our workforce. Any changes that affect our people are made with the utmost care. We’ve done so in service to sharpening our focus and …read more
Source: Tech Crunch