Theranos Lays Off Almost All of Its Remaining Workers (marketwatch.com)
A few months ago, Theranos laid off almost half of its workforce as it struggled to recover from the backlash generated when the company failed to provide accurate results to patients using its proprietary blood test technology. Now, according to people familiar with the matter, the company is laying off most of its remaining workforce in a last-ditch effort to preserve cash and avert or at least delay bankruptcy for a few more months. MarketWatch reports: Tuesday's layoffs take the company's head count from about 125 employees to two dozen or fewer, according to people familiar with the matter. As recently as late 2015, Theranos had about 800 employees. Elizabeth Holmes, the Silicon Valley firm's founder and chief executive officer, announced the layoffs at an all-employee meeting at Theranos's offices in Newark, Calif. on Tuesday, less than a month after settling civil fraud charges with the U.S. Securities and Exchange Commission. Under the SEC settlement, Holmes was forced to relinquish her voting control over the company she founded 15 years ago as a 19-year-old Stanford dropout, give back a big chunk of her stock, and pay a $500,000 penalty. She also agreed to be barred from being an officer or director in a public company for 10 years.
She lied about everything and committed numerous levels of fraud. She needs to be put on trial immediately.
She will: relinquish voting control, give back a big chunk of her stock, pay a $500k penalty, and agree to be barred from holding an officer or director position with a public company for 10 years.
A relatively small private contractor would go to jail next Wednesday for a hot check to float the Easter Party.
Happiness in intelligent people is the rarest thing I know.
Ernest Hemingway
Oh, Trumpverse, run by Republican crooks. Gotcha!
This steaming pile of shit happened under obama's watch. Do you SJW's ever tire of blaming Trump for everything?
And I agree with the other poster's wondering why this bitch ain't in jail!
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Which to Elizabeth Holmes means they're still going to release a perfected version of their ground-breaking blood testing product. The woman will be repeating this to herself 2,000 times a day in her jail cell.
she's a member of the ruling class.
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The European Patent Office helped the fraud: http://techrights.org/2016/04/20/theranos-and-epo/
to perform the chemistries?
...with the ruling class!
... and yet, still alive.
Trump's Sec. of War (Mattis) 'za board member of Theranos, before he (Mattis) went bankrupt.
what a jerk.
What do they need the remaining ones for? Would you buy a blood test from these people?
I mean, if they have ANY sort of technology, they need to just sell it and be done, as no one will EVER trust these dipsticks to make a product. So why the waiting game - we all know where this ends. Are they just going through the motions while they court perspective buyers for the tech? Or is the tech so much a fantasy that they are going through the motions, hoping to run out of money and not have to show their empty papers to anyone?
A thousand pounds of wood moving at 300 feet per minute. Don't get in the way.
Now we know what happens when the rest of the world buys into millennials' high opinions of themselves rather than measuring them against reality. Good riddance.
I would think he would want as many workers as possible if he wants to get his hands on all those Infinity Stones.
She gets no jail time and Martin Shkreli gets 7 years in jail. Amount of money she defrauded were in multiples of what Martin Shkreli ever did. She never paid back the money to her investors but Martin Shkreli did so with profits from his one venture that made money. Where's the feminist outrage about unequal justice?
Trump's Sec. of War (Mattis) 'za board member of Theranos, before he (Mattis) went bankrupt.
As opposed to, say, Solyndra, just down the road about eleven miles, which blew a half Billion-with-a-B, under the watch (and into the pockets) of one of Obama's campaign "check bundlers" and his crew.
"The Swamp" is an equal-opportunity corrupter.
Bantam Dominique roosters crow a four-note song. Once you've heard it as "Happy BIRTHday" you can't NOT hear it that way
Shit on them.
that dumb bitch, no only has she bent over formsmash's famous blk dildo. but she has fucked everey one around her.
that fucking bitch put so many lives at risk for her own vanity/satisfaction.
but there's the perplex.
do we feed her to the dogs
or
do we as a society give her a free ride for the rest of her life courtesy of the Justice system?
Worthless bitch, rot in hell with all of the test subjects you have ruined over the years.
I wonder how many people hate the notion that the rich get away with massive crimes but also hate politicians like Elizabeth Warren who fight to change that.
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Solyndra had a product that worked, unlike Theranos. Solyndra failed largely because competing technologies got far cheaper, whereas Theranos failed because they didn't have the tech they claimed they had. The cases aren't comparable.
"When you have eliminated the unacceptable, whatever is left, however improbable, must be the truthiness" - Holmes