Domestic healthtech startup Healthify has laid off 27 percent of its workforce or about 150 employees as part of the restructuring process. About 3 weeks ago, the company had posted a post on its LinkedIn handle, in which it had been said that the services team has achieved 102 percent target.
Domestic healthtech startup Healthify has laid off 27 percent of its workforce or about 150 employees as part of the restructuring process. Earlier the name of the company used to be HealthifyMe. This information was given in a media report on Saturday. It is being told that employees of sales and product teams were most affected by the job cuts that took place earlier this week.
The report quoted Tushar Vashisht, co-founder and CEO of Healthify, as saying, “In the next three-four months, our Indian business will be in a pre-tax profit position. This restructuring is an unfortunate, but significant, step towards achieving this.” “This is an important step. We also have to ensure that we have adequate resource allocation for global expansion.”
The company will provide this help to the employees being fired
Additionally, the startup said it will provide affected employees “robust support during this time, including a comprehensive severance package, expanded insurance coverage and job placement assistance.” According to reports, the affected workers have been offered two months’ salary, extended insurance coverage, and cash payments in lieu of holidays.
People were removed from which departments?
The healthtech startup laid off around 150 employees in 2021 from various teams including SME (subject matter experts), quality analytics, product and marketing. Founded in 2012, Healthify’s health and fitness app uses artificial intelligence (AI) to track dietary habits, fitness and weight, as well as provide coaching services.
Was praised for achieving the target about 3 weeks ago.
About 3 weeks ago, the company had posted a post on its LinkedIn handle, in which it had been said that the services team has achieved 102 percent of the target. This means that the company did more work than the target in that quarter. The team was praised a lot for this and some of their pictures were also posted. Now the same company has faced retrenchment.
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