Domestic healthtech startup Healthify has laid off 27 percent of its workforce or about 150 employees as part of a restructuring process. Earlier the name of the company used to be HealthifyMe. This information was given in a media report on Saturday. Employees in sales and product teams are said to be most affected by the job cuts that took place earlier this week.
The report quoted Tushar Vashishtha, co-founder and CEO of Healthify, as saying, “Our Indian business will be in profit before tax position in the next three-four months. This restructuring is an unfortunate, but important step towards achieving this. “This is an important step. “We also need to ensure we have adequate resource allocation for global expansion.”
The company will provide this help to the employees who are laid off.
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 employees have been offered two months’ salary, extended insurance coverage and cash payments in lieu of holidays.
From which departments were the people removed?
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.
He was praised for achieving the target about 3 weeks ago.
About 3 weeks ago, the company had made a post on its LinkedIn handle, in which it was told 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. For this the team was praised a lot and some of their pictures were also posted. Now the same company has to face layoffs.
