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Chiratae-backed Healthifyme latest startup to resort to layoffs, 150 staff sacked

HealthifyMe said the decision came as the company’s growth did not match expectations. In India, technology startups have let go off close to 18,000 employees this year

December 04, 2022 / 02:15 PM IST
(Image Credits: SourceCon)

(Image Credits: SourceCon)

Chiratae-backed healthtech startup Healthifyme has laid off 150 employees, about 15 to 20 percent of its workforce, to focus on profitability amid "changing market dynamics", the company has said.

HealthifyMe said the decision came as its growth did not match its expectations and hiring activity at a time when many new-age startups had let go of employees to shrink costs with uncertainty around how long the funding winter would last.

"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," the company said in a statement on December 4.

Healthifyme has joined a growing list of technology companies resorting to layoffs amid macroeconomic headwinds. In India, technology startups have let go of close to 18,000 employees since the start of 2022.