Healthifyme lays off 150 employees
By MYBRANDBOOK
Chiratae-backed healthtech startup Healthifyme has laid off about 15 to 20 percent of its workforce, with an aim of focusing on profitability amid changing market dynamics.
Employees from SME (subject matter expert), quality analytics, product, and marketing roles were reportedly affected. The startup will be offering a two-month severance package and will further extend medical coverage of the impacted employees.
The company’s decision came as its growth did not match its expectations and hiring activity. It said, “We have had to take the tough decision to let go 150 of our team members. Like much of tech, growth hasn't kept pace with expectations and hiring.”
Healthifyme said, “We are also undergoing an evolution with our new vision around metabolic health (HealthifyMe 2.0) which requires different resources. In view of this and changing market dynamics, it made sense for us to steer toward profitability, despite a comfortable runway.”
The company added, “In view of this and changing market dynamics, it made sense for us to steer towards profitability, despite a comfortable runway. As a part of our severance and support to those impacted, we will offer two months’ salary severance with two weeks per year served at HealthifyMe, vested stocks till March 2023, and medical insurance continuance till June 2023, along with counseling and outplacement support.”
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