23andMe customer? Here’s what to know about the privacy of your genetic data. [Video]

23andMe, the struggling ancestry tracing company, continues to spiral, raising questions about its business prospects and what could happen to its sensitive customer genetic testing data.

23andMe on Tuesday announced it is slashing 40% of its workforce as part of a restructuring plan. The move comes after its entire board resigned in September. Its stock price has since plunged, prompting speculation that the company could be acquired by another buyer and sparking concern among customers about the security of their genetic information. 

CEO Anne Wojcicki has said she intends to take the company private and is not considering third-party takeover proposals. 

Customer data collected from its genetic testing tools makes up the company’s most valuable asset. Because 23andMe is not a health care company, health privacy laws don’t apply, raising questions about what the business might opt to do with its 15 million users’ personal genetic data.

Under 23andMe’s current user agreement, users must opt-in to allow the company to share their personal DNA …