Genealogy giant Ancestry is laying off about 6% of its 1,700-person workforce, citing a slowdown in the genetic testing market. Sales of genetics tests have slowed, with Wall Street signalling that the consumer genetics “fad” is over. The news comes just weeks after 23andMe also announced plans to lay off 100 employees, citing the same pressures.Visit Business Insider’s homepage for more stories.
The DNA-testing fad is ending, and it’s hitting one of the biggest players in the space hard.On Wednesday, Ancestry CEO Margo Georgiadis wrote in a blog post that the company is laying off 6% of its 1,700-person workforce, or roughly 100 employees. In the post, Georgiadis cited the slowdown in the consumer genetics market as the reason, noting that the market is at an “inflection point,” and most early adopters have already taken one of the tests. The layoffs come just weeks after rival 23andMe also laid off 100 employees, representing
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