Troubled genetic testing company 23andMe announced it would cut 40% of its workforce, or 200 jobs, to fight for survival.
The once-popular DNA testing site will also halt work on therapies it was developing.
Last year, the company said hackers managed to access the personal information of millions of its users.
23andMe's stock price has fallen more than 70% this year as its co-founder and chief executive, Anne Wojcicki, tries to turn the company around.
The company said it expects to incur one-off costs of $12m (£9.3m), including severance, for the plan, resulting in savings of £35m. dollars.
“We are taking these difficult but necessary steps as we restructure 23andMe and focus on the long-term success of our core consumer businesses and research partnerships,” Ms. Wojcicki said.
The company also said it was considering what it would do with the therapies it had in development, including licensing or selling them.
23andMe is a giant in the growing ancestry tracing industry. It offers genetic testing using DNA, with ancestry breakdown and personalized health information.
In December last year, 23andMe confirmed that hackers had accessed the details of around 6.9 million of its users.
In some cases, this included family trees, birth years and geographic locations, the company said. But the stolen data did not include DNA records, he said.
His clients are famous names, including rapper Snoop Dogg and multi-billionaire investor Warren Buffett.
