DNA-testing company 23andMe Holding Co. will slash its workforce by about 40% and discontinue its therapeutics program as part of a restructuring effort to cut costs, the company said Monday.

Genetic testing firm 23andMe said on Monday it is reducing about 40%, or 200 employees, from its workforce and discontinuing further development of all its therapies as part of a restructuring program.

The clinical trials 23andMe intends to wind-down include its two main therapeutic programs. The restructuring is expected to result in expenses of up to $12 million, and savings of more than $35 million per year,