Theranos, the blood-testing startup that was once the darling of Silicon Valley, is cutting hundreds of jobs and closing its clinical labs and wellness centers.

The announcement came Wednesday in an open letter from Elizabeth Holmes, the company’s embattled CEO.

“After many months spent assessing our strengths and addressing our weaknesses, we have moved to structure our company around the model best aligned with our core values and mission,” she said.

“We have decided to close our clinical labs and Theranos Wellness Centers, which will impact approximately 340 employees in Arizona, California, and Pennsylvania.” Read more…

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Few tears shed for Elizabeth Holmes as Theranos bleeds jobs