- Bengaluru-based healthtech startup Healthify lays off 30% of its workforce to achieve profitability in India by 2024.
- The layoffs come as the company gears up for significant expansion into the US and other global markets.
- Affected employees will receive severance packages, insurance coverage, and job placement assistance.
Healthify, a healthtech startup based in Bengaluru, has announced a workforce reduction of around 30% as part of its restructuring efforts to attain profitability in India by 2024. CEO Tushar Vashist confirmed the layoffs, stating that the move is essential as the company prepares for extensive expansion into international markets, including the US.
Affected employees will be provided with comprehensive support, including severance packages, extended insurance coverage, and assistance in finding new job opportunities. This decision follows a previous round of layoffs in December 2021, reflecting Healthify’s commitment to streamlining operations amidst its growth plans.
Despite the challenges posed by the workforce reduction, Healthify remains optimistic about its future prospects. The company has secured significant funding and reported a notable increase in revenue from operations in FY23 compared to the previous fiscal year. As Healthify continues to compete in the health and fitness market, its focus remains on achieving profitability in India while expanding its presence globally.
