23andMe is laying off 40 percent of its employees, or over 200 workers, as the company attempts to recover from last year’s massive data breach and reverse its plummeting stock price. The genetic testing company also announced that it will shut down its therapeutics business.

The company said it is evaluating strategic alternatives, including licensing agreements and asset sales, for its therapies in development.

Genetic-testing lab 23andMe plans to cut its workforce by 40% and end its therapeutics program in an effort to cut costs, the company announced Monday.

DNA-testing company 23andMe Holding Co. will slash its workforce by about 40% and discontinue its therapeutics program as part of a restructuring effort to cut costs, the company said Monday.

Genetic testing company 23andMe announced that it would be slashing its workforce by 40%, which would mean rendering 200 employees jobless, as part of its restructuring initiative to cut costs. In a press release on Monday,