Practo, a health technology startup backed by Sequoia, is the latest new company to fire employees to cut costs. Practo Lay Offs is going into the trends and people looking for the complete news. According to insiders, the Bengaluru-based company has laid off 41 employees. The business claimed that employees were being asked to leave based on their performance in response to FE’s inquiries. Read More Business News on our website.
Practo Lay Offs Upto 40 Employees
A Practo spokesperson stated, “As always, we are and will remain fully committed to providing the necessary support to all employees who may be impacted.”
Some of the employees who were affected by the decision took to LinkedIn to say that the job losses were part of a larger company restructuring, indicating that there were more people fired.
However, Practo has denied any rumors of a reorganization. Practo is not undergoing any reorganization. We remain committed to our mission of providing healthcare to over a billion Indians and are concentrating on strengthening our businesses. We have hired over 500 talented individuals in the past year, and we plan to hire 500 more practitioners, including backfill, over the next year,” the spokesperson continued.
LinkedIn claims that Practo employs approximately 1,600 people. Practo, which began around 15 years ago, aims to establish an entire ecosystem in which patients can meet doctors and access most facilities before and after surgery.
There are three broad categories that can be applied to Practo’s business: software, secondary care, and primary care.
Online consultations, in-person appointment scheduling, at-home diagnostic services, and medication delivery are all included in the first category. The secondary care division dealt with surgeries that involved primary care.
According to Tracxn data, Practo is worth approximately $418 million and has raised more than $250 million. It has backing from Matrix Partners India, Tencent, DST Global, Sofina, and other companies.