Indian Healthtech Startup HealthifyMe Lays Off 20% Of Its Workforce Amidst the global workforce being under constant fear, HealthifyMe joins the list of companies to announce layoffs

The latest to join an unfortunate list of 2022 layoffs, Indian healthtech startup HealthifyMe announced that it was laying off 20-25% of its workforce, which amounted to 150 individuals employed with the company.

Non-technical roles such as subject matter experts, quality analytics, product, and marketing roles were impacted by the decision.

"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. 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 2 months' salary severance with 2 weeks per year served at HealthifyMe, vested stocks till March 2023, and medical insurance continuance till June 2023, along with counseling and outplacement support," the digital health company said in its official statement.

The 2012 wellness company was founded by Tushar Vashisht, Mathew Cherian and Sachin Shenoy. It claimed to cross $50 Million in revenue run rate earlier this year. With 8 rounds of funding and 22 investors, the startup has raised a total of $100.1 Million and seemed to be one of the most promising ones in its segment.

HealthifyMe has also partnered with reputed medical institutions such as Medanta, Apollo Hospitals, and Manipal Hospitals to provide services to treat or prevent clinical obesity, diabetes, cardiovascular problems and other lifestyle diseases.

The calorie tracking and advice on nutrition and fitness apps joins the likes of Facebook, Twitter, Amazon, and Microsoft to name a few.