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 reportedly 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.
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 about 14% of its staff.
“Over the last 18 months, we have seen a slowdown in consumer demand across the entire DNA category,” Georgiadis wrote in the post. “Future growth will require a continued focus on building consumer trust and innovative new offerings that deliver even greater value to people.”