US blood testing company cuts workforce by 40%

The controversial US biotechnology company Theranos, which is currently facing federal sanctions, has announced that it will close its clinical laboratories, shut its retail wellness centers, and lay off 40% of its workforce.

Theranos came under scrutiny last year when reports emerged that the company was using its technology to run only a fraction of the blood tests it conducted and was instead relying on traditional devices made by other companies to process the …