As reported by Inc42, HealthifyMe is laying off 150 employees which accounts to 15-20% of its total employee count. This decision of the company will impact the employees in SME (subject matter expert), quality analytics, product and marketing roles.
The report also revealed that the startup will be giving a two-month severance package and will also extend the medical coverage of the impacted employees. In a statement given to Inc42, HealthifyMe 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. We are also undergoing an evolution with our new vision around metabolic health (HealthifyMe 2.0), which requires different resources.”
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The company further 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 counselling and outplacement support.”
Recently, hospitality chain Oyo said that it is undertaking to downsize staff and is letting go of 600 employees from its employee base of 3,700. However, the company said it will also go for hiring fresh staff. The company said it is making ‘wide-ranging’ changes in its organizational structure.
Oyo is downsizing its product and engineering teams, and the Oyo vacation homes teams, while it plans to add people to the partner relationship management and the business development teams.
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