Invitae

How it happened

Invitae aimed to make genetic testing mainstream, with its market cap topping $7B in 2021 as shares traded above $50. An acquisition spree loaded the balance sheet with debt against an unprofitable testing model after the pandemic, and Invitae filed for Chapter 11 in February 2024 and was delisted, with Labcorp winning its assets at auction for $239M. Employees watched it coming: Glassdoor reviews describe a buying binge of companies leadership never integrated, followed by round after round of reorgs that were really layoffs, including a ~1,000-person cut in 2022. Reviewers recounted being logged out of their computers mid-task, some mid-call with patients, and likened the company to a sinking ship long before it filed.

Employee accounts paraphrase anonymous, unverified reviews posted publicly on Glassdoor ↗. See our methodology.