Nov 11 (Reuters) - 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.

"We are taking these difficult but necessary actions as we

restructure 23andMe and focus on the long-term success of our

core consumer business and research partnerships," said CEO Anne

Wojcicki.

The company said it is evaluating strategic alternatives,

including licensing agreements and asset sales, for its

therapies in development.

Wojcicki, who has been trying to take the company

private since April, is facing a tough challenge after

independent directors of 23andMe resigned in September, after

not receiving a satisfactory take-private offer from the CEO.

In July, the CEO and co-founder proposed to acquire all

outstanding shares of the firm not already owned by her or her

affiliates for 40 cents each.

After Monday's restructuring plan, the company expects

annualized cost savings of more than $35 million.