HealthifyMe Slashes Workforce By 30 Per Cent To Focus On Global Expansion: Report

The development comes as the company is prioritising AI-driven solutions and looking into expanding its presence internationally, specifically, entering the US market

The firm also said that it will ensure support to the staff affected by the layoffs in the form of insurance coverage, severance packages, etc

Source : HealthifyMe.com

Indian digital health and wellness start-up, HealthifyMe, reportedly slashed its workforce by about 30 per cent recently. The trimmings affected employees across segments in the firm, media reports said. 

This marks the third layoff undertaken by the health start-up in about two years, reported Financial Express. The development comes as the company is prioritising AI-driven solutions and looking into expanding its presence internationally, specifically, entering the US market. 

Quoting a laid off employee, the report said, “We were informed of the layoff on Thursday. We were told that our severance pay will only come in 4 months’ time. The communication came as a shock to most of us, as the founder had only last month assured all employees in an internal communication that there will not be any more layoffs within the company.”

The report further cited a spokesperson from HealthifyMe and siad that the company is in the midst of a restructuring process intended to enhance profitability for the Indian operations by 2024 and develop capacity for global expansions.

“At Healthify, we are committed towards achieving profitability for our India business in 2024. Concurrently, we are preparing for a significant expansion into the US and other global markets this year, where we are actively building capacity for future growth. In alignment with these goals, we have made the difficult decision of restructuring our team to streamline operations,” the company’s spokesperson noted.

However, the firm also said that it will ensure support to the staff affected by the layoffs in the form of insurance coverage, severance packages, etc. “We deeply understand the impact of these changes on our affected employees and will provide them robust support during this transition, including comprehensive severance packages, extended insurance coverage, and job placement assistance,” the company said.