In a significant move to stabilize its operations, 23andMe has announced the layoff of 200 employees, representing a staggering 40 percent of

As founder and CEO Anne Wojcicki struggles to take the company private, 200 jobs are cut as part of its restructuring plan.

Me announced on Monday it would cut 40% of its workforce, representing more than 200 employees, as part of a restructuring at the company. “We are taking these difficult but necessary actions as we restructure 23andMe and focus on the long-term success of our core consumer business and research partnerships,

Me is laying off 40% of its workforce, or more than 200 employees, and discontinuing its therapeutics division as the struggling genetic testing company attempts to slash costs

The DNA testing kit company is also discontinuing new developments to its therapeutics program, which has been focused on using customers’ DNA data to aid in drug discovery.

The genetics company is closing a unit that was once seen as core to its future.

The genetic testing company 23andMe is cutting 40% of its workforce and ending its therapeutics program as its stock price continues to plummet. CBS News correspondent Carter Evans has more on what this means for its customers.