HealthifyMe lays off 150 employees which is about 15 to 20 per cent of its total workforce to achieve profitability amid the volatile market dynamics according to the reports.
The Chiratae-backed health tech startup took the decision as its growth does not match their expectations. In the current scenario, many startups have been laid off to maintain operational costs due to uncertainty around the funding winter.
In India since the start of the year, 2022 tech-based startup has laid off more than 16,000 employees due to the funding winter and recession. The roles affected in HealthifyMe were SME(subject matter expert), quality analytics, and product and marketing roles were affected.
HealthifyMe has also offered a severance package of two months with two weeks per year served at the startup to the laid-off employees. It would also provide the vested stocks till march 2023, while medical insurance would continue till June 2023 and has also offered counselling and outplacement support to those affected.
It was founded in 2012 by Tushar Vashisht and Mathew Cherian, HealthifyMe delivers measurable results on eating habits, fitness, and weight by tracking lifestyle, providing access to diet and workout coaches and through its artificial intelligent nutritionist.