Palo Alto-Based Theranos to Shut Down Facilities, Lay Off 340 Employees

Blood-testing startup Theranos says it is shutting down its facilities and laying off about 340 employees.

In a statement to stakeholders, CEO Elizabeth Holmes says the company will focus on rebuilding after several investigations into its practices.

The Palo Alto-based company developed what it claimed was the first blood test that could diagnose diseases from a single drop of blood.

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