UPDATED: Friday, July 21, 5 pm E.T.
Healthcare technology startup Biofourmis is reducing its global workforce which includes a reduction of 48 employees in the U.S. the company confirmed Friday.
The largest impact will come outside the U.S. as the company focuses on accelerating growth in the U.S. market. The layoffs impact 120 global employees, including the 48 in the U.S. Most of the roles are operational and administrative; the company will maintain its investment in commercial, according to a company spokesperson.
"Biofourmis has assessed its organizational structure and strategically redesigned key areas to position the company for growth,” said Kuldeep Singh Rajput, Biofourmis CEO and founder in a statement. “At this stage in our growth trajectory, we recognize that continuing to scale requires an agile approach and the right infrastructure. This is a natural evolution for a company at Biofourmis’ growth stage; we grew from just 60 employees in 2019 when we moved our headquarters to the U.S. to 650 at peak, including employees from two acquisitions."
Biofourmis is taking the appropriate steps to "right-size and right-structure the company for growth and profitability and to be good stewards of its funding," Rajput said.
"We are reducing operational and administrative overhead expenses and investing in commercialization efforts and ongoing product development to support scaling the business," he said.
The company, which has raised $465 million in funding, provides an artificial intelligence-based virtual care service to monitor complex chronic conditions and to shift care away from hospitals and into patients' homes. The Boston-based company developed an AI-based data analytics engine that can ingest data from wearables, devices and sensors biosensors to remotely monitor patients and the progress of medical treatment. The company's Care solutions include hospital-at-home services, transitional care, digital disease management and virtual specialty care.
Tuesday, July 11, 5 pm E.T.
Nursing staffing startup IntelyCare laid off at least 30 employees, BostInno reported.
The company, which offers a digital platform to connect nurses to flexible shifts, reorganized its business and confirmed to the Boston Business Journal that the restructuring included job cuts. IntelyCare declined to say how many employees were affected, but the news outlet reported that at least 30 former staffers posted on LinkedIn that their positions had been eliminated.
July 7
Virtual care startup TytoCare reduced its workforce by around 10%, laying off 20 employees. Around half of the employees being let go are based in Israel, where the company employs 135 staff members, Calcalist reported.
The company developed a digital device for remote medical testing and diagnosis.
"At a time when the financial markets have undergone significant changes, we are compelled to make certain personnel adjustments and bid farewell to some wonderful people,” TytoCare said in a statement to the publication. “Nevertheless, our company remains committed to pushing technological boundaries in the field of digital home medicine, expanding our customer base, hiring necessary personnel, and revolutionizing medical service practices in Israel and worldwide."
July 5
Mental health and meditation company Headspace laid off 180 employees, the L.A. Times reported.
The latest round of layoffs impacts 15% of the total company. The news comes six months after the San Francisco-based company announced cutting 50 positions, or about 4% of its staff.
In a memo obtained by the LA Times, Headspace’s CEO, Russell Glass, told workers that he had underestimated the impact the economy would have on consumers and that the company was still looking to be cash-flow positive by next year.
With the privilege of supporting the mental health and wellbeing of millions of people around the world also comes great responsibility to focus on the health of our business and safeguard it for the future,” a spokesperson for Headspace told Behavioral Health Business in an email. “On June 29th, we announced several important changes to our strategy and organizational structure at Headspace, including reducing the size of our workforce by 15%. These changes will equip the company for the future and pave a strong path to profitability. We’re deeply grateful for the employees we said goodbye to and are committed to supporting them through this time of transition.”
Thursday, April 6, 11:30 am E.T.
Content services platform vendor Hyland Software plans to lay off 1,000 employees, or about 20% of its workforce.
Hyland, founded in 1991, creates software for a wide range of companies in the healthcare, government, financial and insurance industries. It's the developer behind the process management software OnBase.
CEO Bill Priemer said the job cuts are part of restructuring efforts at the company. "We are removing layers of management, adjusting team sizes and reassigning responsibilities across departments and levels," he wrote in a letter posted on the company's website.
Priemer said Hyland, like many technology companies, has been navigating the global economic situation and shifts in the market. Hyland was transforming into a cloud company which required "substantial investment in both people and systems."
"While we had planned for this investment, we did not anticipate the degree to which inflation, rising interest rates and wage increases would impact our expenses. Furthermore, the challenging economic climate we currently face is prompting many organizations to pull back on their technology expenditures," Priemer said.
The company enacted significant cost-cutting measures such as hiring freezes, travel restrictions and reductions in discretionary spending, he said.
"We determined that streamlining the organization, both operationally and financially, is necessary to ensure Hyland’s long-term success," he wrote.
February 27
Cerebral, a mental telehealth company that has raised $462 million, plans a third round of layoffs after a challenging year as it faces public scrutiny and federal investigations into its prescribing practices.
The company plans to reduce its workforce by about 15%, a Cerebral spokesperson confirmed to Fierce Healthcare Tuesday. Business Insider reported the layoffs Monday, noting the cuts impact about 285 employees.
"Over the past year, we have taken steps to refocus on the most important service offerings for our patients. Today’s announcement is the culmination of that reorganization, which regrettably means reducing the size of our workforce by about 15%. Affected employees will be fully supported with extended severance pay and benefits, as well as outplacement services," the company spokesperson said in an email.
CEO Dr. David Mou told employees in a February 27 email that the cuts are necessary for Cerebral to maintain a sustainable business "to ensure we can continue to provide care to our patients in need," Insider reported, citing a copy of the email that was provided to the publication.
In July, Bloomberg News reported that the company laid off about 350 employees. A second round of layoffs came in October, as the company slashed its workforce by 20%, Wall Street Journal first reported.
Cerebral, which has a valuation of $4.8 billion, launched in January 2020 and grew rapidly, propelled by increased demand for behavioral healthcare services during the pandemic. The company provides comprehensive, online mental health services for depression, anxiety, PTSD, attention-deficit/hyperactivity disorder (ADHD), bipolar disorder and a range of other conditions.
The three-old-year startup faces intense media scrutiny and federal probes into its business practices. Cerebral is currently mired in a Department of Justice investigation into its prescribing practices and "possible violations" of the Controlled Substances Act.
The Federal Trade Commission also is investigating whether the mental health startup engaged in deceptive or unfair practices related to advertising or marketing.
UPDATED: Friday, Feb. 10 at 2 p.m.
Healthcare staffing startup Nomad Health laid off 17% of its corporate workforce as the company confronts "a major shift in the post-pandemic economy," executives said.
Nomad CEO Alexi Nazem confirmed the company’s headcount had gone from 691 to 572 employees – a reduction of 17%, Forbes reported.
"Nomad Health is a company built around providing care - to clinicians, clients, patients, and staff. Like so many companies globally, we have been confronting a major shift in the post-pandemic economy. We had to realign our staffing to match the activity in the market, which is extremely fluid," a company spokesperson said in a statement sent to Fierce Healthcare via email.
"After cutting non-personnel-related spending and management teams taking pay cuts, we made a difficult decision to let go of 17% of our team. Our leadership team has met face-to-face with every single impacted employee, and we’ve offered a range of severance packages starting at six weeks' pay, which increase based on tenure, as well as transitional healthcare coverage and job placement services," the spokesperson said.
Nomad’s business benefitted from an industrywide staffing shortage that left hospitals and other care providers increasingly reliant on temporary and travel workers.
Workforce shortages during the pandemic propelled healthcare staffing startups to rapid levels of growth in the past two years. A new crop of startups have sprouted up to help hospitals fill staffing gaps, including Trusted Health, Vivian Health, Clipboard Health and Incredible Health, to name a few.
However, the market for temporary healthcare workers appears to be cooling off.
Nomad Health, which launched in 2015, developed an online healthcare jobs marketplace that allows clinicians to search, filter and apply to temporary local and travel positions. Nomad has raised $216 million to date from investors including Icon Ventures, Adams Street Partners, Polaris Partners, RRE Ventures, .406 Ventures, and Silicon Valley Bank.
It's most recent funding round was in June 2022, when it nabbed $105 million in new financing to expand its online healthcare jobs marketplace to new clinical specialties. The startup planned to go beyond traveling nurses to include lab techs, physical therapists and ultrasound technicians.
Nomad said last year that its user base now includes more than 250,000 healthcare workers who have submitted nearly half a million job applications on the platform.
Nomad’s revenue has increased more than sevenfold, and the company is profitable, executives told Fierce Healthcare in June.
UPDATED: Thursday, Feb. 9 at 9 p.m.
Healthcare automation startup Olive cut another 215 jobs this week, The Columbus Business Journal reported. The recent cuts represent roughly 35% of the company, sources told Axios.
The workforce reduction follows a larger round of layoffs, impacting 450 employees, last summer.
A spokesperson for Olive confirmed the layoffs but did not provide details on the number of employees impacted.
"Today, Olive announced it has reduced the size of its workforce to continue to focus on its business strategy and pursue our ability to make a positive impact on the healthcare industry. The decision was based on the continued economic conditions affecting tech companies like Olive, as well as anticipation of continued financial strain among healthcare providers," the spokesperson said.
Back in July, CEO Sean Lane cited the workforce reductions to tough economic conditions as well as "missteps" in the company's strategy. The Columbus, Ohio-based company announced changes to its strategy and structure last summer, which resulted in "difficult but necessary organizational shifts," a company spokesperson said.
The company was shifting its strategy to achieve profitability sooner than originally planned, Lane said back in July.
Lane and his team first deployed Olive in 2017 with the idea to tackle the high-volume, repetitive and manual tasks healthcare workers do every day but faster and more accurately. The company has been tackling issues like prior authorization through the acquisition of AI software provider Verata Health.
A year ago, the company raked in $400 million in fresh capital to build out its enterprise AI for hospitals. The round, led by Vista Equity Partners, boosted the company's valuation to $4 billion, it claimed.
Since March 2020, the startup has raised $832 million in financing and a total of $902 million since the company’s founding in 2012.
Olive executives said a year ago that its enterprise AI was in place at more than 900 hospitals in over 40 U.S. states, including more than 20 of the top 100 U.S. health systems.
UPDATED: Thursday, Feb. 9 at 8:30 p.m.
Virtual mental health provider Mindstrong will wind down its operations and stop offering its patient care services March 10, several publications reported.
According to a Worker Adjustment and Retraining Notification (WARN) notice with California's Employment Development Department, the company is laying off 128 employees and closing its Menlo Park headquarters.
Behavioral Health Business reported the layoffs will include many of the company's C-suite, including its CEO, chief financial officer, chief technology officer, and dozens of vice president and senior-titled roles. The layoffs impact 46 therapists and two nurse practitioners as well, the publication reported.
The San Francisco Business Journal reported January 31 that Mindstrong sent an email to clients advising them to find another clinician before March 10, because some of its staff may cease offering their services before then. Mindstrong providers will reach out to patients who are actively under their care to make transition arrangements, the company said in the email.
At the beginning of the COVID-19 pandemic, the company raised a $100 million series C round backed by General Catalyst, ARCH Venture Partners, Foresite Capital, 8VC, Optum Ventures and What If Ventures, among investors.
The company raised a total of $160 million in venture capital since its founding in 2014, according to Crunchbase. Former director of the National Institutes on Mental Health Dr. Tom Insel is a co-founder and former president of the company.
The company’s website says it offers virtual coaching, therapy and psychiatry services through a mobile app in 13 states.
UPDATED: Wednesday, Feb. 8 at 5:10 p.m.
Wheel, a startup that is behind the scenes powering the infrastructure behind virtual care, confirmed a second round of job cuts.
A spokesperson confirmed the company reduced its workforce by 28%, laying off 56 employees.
Wheel laid off 35 staff members, or about 17% of its workforce, on August 18.
The Austin, Texas-based company provides a prebuilt virtual care platform and nationwide clinician network that enables healthcare companies to scale up telehealth services—and do it in weeks rather than 15 months.
The company has seen rapid growth in the past two years with the shift to virtual care and has raised $216 million to date. Wheel hit a $1.02 billion valuation in January 2022 with its latest $150 million round, according to Crunchbase.
Back in August, In an email sent to Wheel staff, CEO and co-founder Michelle Davey, said the company decided to reduce its workforce to better serve its long-term strategy. She said Wheel's business model was not changing but the company was making a more focused investment in its technology to build an enterprise platform that will support more types of care delivery.
UPDATED: Monday, Feb. 6 at 4:30 p.m.
Healthcare software company Athenahealth confirmed Monday that it has reduced its global workforce by less than 3%.
The Boston Globe reported Thursday, Feb. 2 that 178 positions would be cut from Athenahealth’s ranks, in addition to just over 100 employees being “redeployed to higher priority areas" of the business, according to a company-wide e-mail authored by chairman and CEO Bob Segert, which was obtained by the publication.
As of November, Watertown, Mass.-based Athenahealth had about 1,500 employees in Greater Boston and about 6,500 globally, according to the Boston Globe.
“At athenahealth, we are continuously reviewing and evolving our structure and priorities in line with our growth strategy, macroeconomic conditions, and the evolving needs of our customers and business. We are making some internal changes to better position our organization for its next phase of growth, and as a result, we are reducing our global workforce by less than 3%," a company spokesperson said in a statement sent to Fierce Healthcare. "While this represents a small percentage of our total employees, it is difficult to say goodbye to any of our people and we are actively working to support all impacted employees.”
In the company-wide email, Segert said the company is “exploring moving to new, leased office spaces for our Watertown and Austin offices,” because of persistent low office attendance.
“As a result, we are looking for new, innovative spaces with smaller footprints that support flexible work and better align our financial investment in office space to our current hybrid work environment,” Segert wrote.
The Athenahealth spokesperson said the company is "committed to remaining in the Boston and Austin areas."
UPDATED: Sunday, Feb. 5 at 8 p.m.
Weight loss startup Noom confirmed more workforce reductions, marking the third round of layoffs in less than a year. The layoffs occurred in late January.
Posts on LinkedIn and Blind, an anonymous professional network, referenced layoffs that impacted 50% of coaches at the digital weight loss company and 30% of corporate staff.
"Noom has experienced extraordinary growth over the past several years, and it’s important that we are structured in a way that we can best maintain that momentum over the long-term. As a result of the tough economic headwinds that are impacting businesses across industries, we have made the difficult decision to reduce the number of Noom employees," a Noom spokesperson said in a statement sent via email. "While this was a painful choice, we are confident in our strategy and in our ability to continue to serve Noomers as they work to better their lives through behavior change."
The company's general counsel Michal Rosenn also stepped down and will take on an advisory role, according to a post on her LinkedIn profile.
Noom, an app that helps people lose weight by focusing on behavior change, saw rapid growth in 2020 as people looked to shed pandemic-fueled pounds. The New York-based company bulked up with $540 million in a series F funding round in May 2021.
In late April 2022, Insider reported that the weight-loss app laid off 180 coaches. A coach for the platform told the publication Noom planned to lay off 315 more employees within the next 10 days, offering voluntary severance options.
In October, the company confirmed a second round of layoffs this year. Tech Crunch reported that Noom cut its workforce by 10%, or around 500 people, which is a reduction that mostly impacts its coaching team.
UPDATED: Sunday, Feb. 5 at 7 p.m.
Kyruus, a company that provides provider search and scheduling solutions for health systems, reportedly laid off 70 employees, according to posts on LinkedIn.
A company spokesperson contacted via email said the company was undergoing "organizational changes" as it works to integrate three organizations under the Kyruus umbrella.
"We are streamlining operations to ensure our company is efficient and effective at bringing the most innovative solutions and services to our customers. At this time, we will not be commenting on specific organizational changes," the spokesperson said.
In April 2021, the company acquired HealthSparq, a healthcare guidance and transparency technology company serving health plans. With HealthSparq under its wing, Kyruus now serves 70 health systems and 100 health plan brands across the United States.
In September 2022, Kyruus announced it was acquiring Epion Health, a digital patient engagement solutions company. The combined entity will serve more than 500 health systems and medical groups, with a suite of tools for provider data management, provider search, scheduling, pre-visit intake, and payment collection, executives said.
UPDATED: Wednesday, Jan. 11 at 4:15 p.m.
Alphabet healthcare and life science subsidiary Verily Life Sciences has informed employees in an email that it is laying off over 200 people amid a broader reorganization and strategy shift.
The cuts represent about 15% of the company’s more than 1,600 employees and include executive departures.
CEO Stephen Gillett told employees that Verily’s will be focusing its strategic efforts on “becoming the data and evidence backbone for precision health,” which will including AI and data science applications.
With that comes the end of several Verily portfolio products, he continued. Among those on the cutting room floor are Verily Value Suit, a data-driven clinical and financial insights platform, and other early-stage products around remote patient monitoring for heart failure and microneedles for drug delivery.
Some of the work on these areas will be repurposed under other continuing focuses, as will some—but not all—Verily employees who were assigned to those projects, Gillett wrote in the notice. Other layoffs are related to Verily taking full control of its Granular and Onduo joint ventures or redundancy with its new operating structure.
“Our most immediate priority is ensuring that these Veeps [Verily employees] are given the support they need to ease their transitions, and we will offer help in many ways over the coming weeks and months ranging from severance to coaching and outplacement services,” Gillett wrote to employees. “I am truly grateful for their contributions.”
UPDATED: Friday, Jan. 6 at 5:00 p.m.
About six months after cutting 8% of its global workforce, hybrid primary care company Carbon Health announced another round of layoffs and corporate restructuring efforts.
The company reduced its global workforce by more than 200 people, Carbon Health CEO Eren Bali said on social media.
In a tweet, Bali said the company plans to unwind major initiatives like public health, remote patient monitoring, hardware and chronic care programs to focus on its "core primary care and urgent care service."
Bali said the workforce reductions impacted "incredibly talented people" across all roles and put out the call for other digital health companies looking to make new hires.
UPDATED: Tuesday, Dec. 6 at 11:30 a.m.
Blue Shield of California will lay off 373 employees across multiple locations by the end of January, according to a notice filed with the state last month.
Modern Healthcare reported that most of the layoffs will be conducted at the insurer's Sacramento-based offices, though 62 employees based in its Oakland headquarters will be laid off.
Blue Shield employs about 7,800 total workers so the layoffs represent just a fraction of its workforce, according to the report.
The layoffs follow news that Blue Shield would be dropped from Medi-Cal, the state's Medicaid program, beginning in 2024. The insurer sued over changes to Medi-Cal in October.
UPDATED: Tuesday, Nov. 22 at 4:19 p.m.
Humana will lay off 157 workers as it shutters a SeniorBridge home health location in Jupiter, Florida.
According to a notice submitted to state authorities, the closure is expected to be permanent and will begin on Jan. 3, 2023. The company said that all employees have been notified that their jobs are ending and that the layoffs are set to be permanent.
Roles impacted by the layoffs include clinical and administrative staff, according to the notice.
SeniorBridge operates across nine states: Arizona, Connecticut, Florida, Massachusetts, New Jersey, New York, Ohio, Texas and Virginia. It provides a slew of home health services, including nursing, infusion and chronic care management.
UPDATED: Monday, Oct. 24, at 5:30 p.m.
Embattled startup Cerebral, a mental telehealth company that has raised $462 million, plans to cut back staff as part of a restructuring effort that will impact 20% of its workforce.
Cerebral CEO Dr. David Mou told employees in a company-wide memo, which was published by Insider, that the company was adjusting the size of its clinician teams to better match patient demand. Mou also said Cerebral was shrinking the size of its operations teams to account for the "sunsetting of non-core programs and reduced growth targets," according to the memo.
Muo's memo confirmed that the staffing changes impacted 20% of the company's workforce.
The Wall Street Journal first reported the staffing cuts Monday. WSJ also obtained a copy of Mou's memo to employees.
Mou said the changes would be spread across all divisions, including headquarters, clinical-care teams and support staff. He said employees would be notified over the course of the week.
A Cerebral spokesperson told Fierce Healthcare in an emailed statement that the staffing changes are part of Cerebral’s "ongoing transformation program, which drives to create more sustainable growth and stability, while further delivering our mission to democratize access to high-quality mental health care for all."
"These changes are focused specifically on realizing operational efficiencies while prioritizing clinical quality and safety across the organization. They will enable the company to pursue a patient-first growth model that supports and empowers clinicians," the spokesperson said.
Cerebral, which has a valuation of $4.8 billion, launched in January 2020 and grew rapidly, propelled by increased demand for behavioral healthcare services during the pandemic. The company provides comprehensive, online mental health services for depression, anxiety, PTSD, attention-deficit/hyperactivity disorder (ADHD), bipolar disorder and a range of other conditions.
As part of the cuts, about 400 care counselors were laid off on Monday, Insider reported, citing a former employee who was not authorized to speak to the press.
Cerebral's leadership team decided to gradually discontinue the Care Counselor services to focus "investment on evidence-based behavioral care with higher utilization" and specialized care models, the spokesperson said in a statement.
"Only a small minority of our patients who have access to Care Counseling services schedule an appointment with a Care Counselor. However, as continuity of care is critical to both patient outcomes and experience, will continue to offer Care Counselor services to any existing patients who would like to continue these services," the spokesperson said.
"We are committed to continuously evolving our care model to apply evidence-based research and best serve our patients’ needs, and while our structure may change, our mission will not," Cerebral executive said in the statement.
The three-old-year startup faces intense media scrutiny and federal probes into its business practices. Cerebral is currently mired in a Department of Justice investigation into its prescribing practices and "possible violations" of the Controlled Substances Act.
The Federal Trade Commission also is investigating whether the mental health startup engaged in deceptive or unfair practices related to advertising or marketing.
UPDATED: Thursday, Oct. 13, at 11:30 a.m.
Weight loss coaching app company Noom confirmed a second round of layoffs this year.
Noom has laid off 10% of its staff, or around 500 people, which is a reduction that mostly impacts its coaching team, Tech Crunch reported this week. It’s the second layoff impacting Noom’s coaching team in a matter of months. In April, Insider reported the weight-loss app laid off 180 coaches.
"Noom has experienced extraordinary growth over the past several years, and it’s essential that we are structured in a way that enables us to continue growing over the long term. We recently made the difficult decision to reduce the number of Noom employees. We are deeply grateful for their contributions to Noom, and we wish them continued success," a company spokesperson said in a statement via email.
The company did not confirm the scale of the layoffs.
The round of layoffs come right as the company’s CFO, Mike Noonan, leaves to join TripAdvisor, The Wall Street Journal reports.
Noom, which was valued at $3.7 billion last year, scored $540 million in a series F funding round in June 2021. The company has raised $650 million since launching in 2008.
The company is shifting its focus to enterprise clients and recently launched Noom for Work to provide preventative care and wellness benefits for employers and health plans.
UPDATED: Thursday, Sept. 1, at 9 a.m.
Wheel, a startup that is behind the scenes powering the infrastructure behind virtual care, laid off 35 staff members, or about 17% of its workforce, on August 18.
In an email sent to Wheel staff, CEO and co-founder Michelle Davey, said the company decided to reduce its workforce to better serve its long-term strategy. A copy of the email was provided to Fierce Healthcare.
"We’re making strategic investments to rapidly unlock more virtual-first care delivery opportunities for our clients. We’ll also continue to invest in the platform experience for Wheel clinicians so they can focus on great patient care," Davey said.
The layoffs were first reported by Insider on Tuesday.
The Austin, Texas-based company provides a prebuilt virtual care platform and nationwide clinician network that enables healthcare companies to scale up telehealth services—and do it in weeks rather than 15 months.
The company has seen rapid growth in the past two years with the shift to virtual care and has raised $216 million to date. Wheel hit a $1.02 billion valuation in January with its latest $150 million round, according to Crunchbase.
Whee's business model is not changing but the company is making a more focused investment in its technology to build an enterprise platform that will support more types of care delivery.
The industry is at a critical inflection point as virtual-first care becomes the norm, Davey said in the email to employees. "We made the decision to double down on our long-term strategy of building an enterprise platform that connects patients with the highest quality care. By scaling the underlying infrastructure for the industry, we’ll accelerate everyone’s ability to get quality care on-demand — at any time, from anywhere, and on their own terms."
UPDATED: Thursday, Aug. 18, at 6 p.m.
Telehealth unicorn Thirty Madison is the latest digital health company to cut its workforce citing the need to restructure operations.
The New York City-based company confirmed to Fierce Healthcare Thursday that 10% of its corporate staff have been impacted by the layoffs. No patient-facing team members were impacted by the layoffs, a company spokesperson said.
"In an effort to streamline our businesses, establish a greater focus on patient impact, and hold ourselves accountable in areas where we can be more efficient, we have decided to restructure the company. As part of that restructure, we made the decision to conduct layoffs, effective today. I own the decision, and to the team departing: thank you so much for your service to this company and to patients," Steven Gutentag, CEO and co-founder at Thirty Madison said in a statement provided to Fierce Healthcare.
The five-year-old company offers direct-to-consumer telehealth visits and online prescriptions for drugs for hair loss, migraines and acid reflux. The company recently expanded into sleep and dermatology.
Thirty Madison vaulted to unicorn status a year ago when it banked a $140 million series C funding round. It has raised $210 million to date.
The company declined to disclose how many people it employs.
In November, Thirty Madison said it would begin offering in-person care services with plans to open a hair transplant clinic in New York City in early 2022.
Six months ago, Thirty Madison merged with female-focused virtual care company Nurx, which provides birth control education and delivery, as well as services like STI testing, HIV prevention with PrEP, and at-home HPV testing.
In May, Axios reported that the company laid off 24 employees, likely reflecting redundancies from the Nurx merger. Those layoffs represented roughly 3% of the company, which employs just under 800 people, according to Axios' reporting.
August — 7 companies so far
August 16 — Signify Health: The value-based home health provider reportedly being pursued by CVS Health, plans to cut its workforce as it shifts away from its episodes of care business.
The layoffs are related to the wind-down of the company's episodes of care business, a company spokesperson confirmed to Fierce Healthcare.
Last week, media reports said the Dallas-based company planned to lay off nearly 500 people.
August 16 — Truepill: The digital pharmacy startup said it was laying off about a third of its workforce, the third round of reductions in 2022, according to media reports. Sources told TechCrunch the company eliminated about 175 positions.
Former employees posted about the layoffs on LinkedIn last week.
Launched in 2016, San Mateo, California-based Truepill offers a B2B application program interface that enables pharmacy fulfillment and delivery, white label packaging and product design. The company expanded its offerings beyond pharmacy fulfillment and delivery to include telehealth and an at-home lab testing network.
August 15 — Sema4: The genomic-testing company announced sweeping changes aimed at reining in costs that will include laying off about 240 employees across its facilities in Connecticut, closing its clinical laboratory in Branford and consolidating its Stamford real estate, CT Insider reported.
The company also disclosed the resignation of its founder and president.
August 11 — Calm: The maker of a popular meditation and wellness app Calm laid off 20% of its staff, according to a memo sent by Chief Executive David Ko to employees, The Wall Street Journal reported.
People familiar with the matter said San Francisco-based Calm employed roughly 400 people, and that approximately 90 were laid off.
August 10 — GoHealth: About 800 employees will be let go at the health insurance marketplace. The cuts represent 20% of its workforce and come as the company has struggled to control costs despite seeing revenue growth, The Chicago Sun Times reported.
August 3 — Oracle Cerner: The database giant, which acquired Cerner in June, has begun cutting U.S. jobs with workforce reductions primarily impacting marketing and customer experience divisions, according to media reports.
Oracle planned thousands of job cuts for its global workforce of 140,000 after discussing cutting $1 billion in expenses, The Information reported in July.
July — 11 companies
July 27 — Cue Health: The testmaker said it would lay off 170 manufacturing workers, Fierce Medtech reported.
Less than a year after it went public in an IPO that valued it at $3 billion and brought in proceeds of around $200 million—which Cue said at the time would be used in part to help expand its workforce—the diagnostics developer is slimming down its business.
July 25 — Included Health: The virtual care company, which was formed through the merger of Grand Rounds Health and Doctor on Demand last year, reduced its headcount by less than 6%, a company spokesperson confirmed to Fierce Healthcare.
"Included Health continues to grow and innovate. We are actively investing in and scaling our member care and clinical teams to ensure the best possible experience for our members. While the teams supporting our members continue to grow — as does Included Health overall — we have restructured," the spokesperson said in an email.
July 25 — Whoop: Buzzy unicorn Whoop revealed that it will cut 15% of its workforce, impacting every department in the company, the Boston Globe reported.
In a LinkedIn post, Ben Foster, Whoop’s chief product officer, who was impacted by the job cuts, said "many growth stage companies who relied on endless streams of venture capital must immediately downshift to manage burn and extend their runway.”
July 25 — Pear Therapeutics: The prescription digital therapeutics announced that it was letting go of roughly 25 employees, representing 9% of its workforce.
The layoffs are part of an overall operations restructuring that the Boston-based company said will “narrow its near-term business focus and reduce its workforce due to the macroeconomic environment,” according to an SEC filing after market close, Mass Device reported.
July 22 — Capsule: The New York-based digital pharmacy startup initiated staffing cuts that impacted 13% of its workforce, Crain's New York Business reported. Sales and marketing, software engineering, product, operations and expansion growth were among the affected departments, according to LinkedIn posts from former employees who were part of the layoffs.
The company had 938 employees as of May, according to Pitchbook.
July 20 — Providence: Following back-to-back years of major net losses, one of the country’s largest nonprofit health systems is responding with a “leaner” operating model with fewer executives and larger regional divisions.
Providence, a 52-hospital integrated system, also said in would be “consolidating” the leadership of its Physician Enterprise, Ambulatory Care Network and Clinical Institutes business lines into a single executive leadership team.
July 19 — Olive: The healthcare automation startup laid off 450 employees as the CEO cited tough economic conditions as well as "missteps" in the company's strategy.
The Columbus, Ohio-based company announced changes to its strategy and structure Tuesday, which resulted in "difficult but necessary organizational shifts," a company spokesperson said.
The company has grown rapidly over the last several years.
"Olive’s values of 'choose vision over status quo' and 'act with urgency' drove us to make significant investments across the most pressing parts of healthcare, scale our teams and move quickly to bring solutions to the market," CEO Sean Lane said in a message to employees posted on Olive's website.
"The realities of today’s economy are forcing the company to rethink this approach," Lane wrote.
July 15 — Calibrate Health: A year after raising $100 million, weight loss-focused digital health startup Calibrate laid off 24% of its employees.
The move affected 156 of the company's 652 staff members, Bloomberg Law reported.
July 11 — Forward: The primary care company, reportedly worth more than $1 billion, confirmed to Fierce Healthcare it cut 5% of its workforce.
"Due to the extremely tough market conditions, we laid off a small group of people, representing about 5% of Forward’s headcount. We were very sad to lose these folks and we’re supporting them with severance and outplacement services," a company spokesperson said via email.
The company did not disclose how many employees it had prior to the cuts.
July 7 — Cedar: As health tech companies try to navigate a market downturn, Cedar joins other digital health startups in cutting its workforce with an eye on its bottom line.
The healthcare payments company cut 24% of its workers, the company confirmed to Fierce Healthcare.
"While several factors contributed to this difficult decision, including the current macroeconomic climate, this is not about achieving short-term cost cuts. Going forward, we are focused on creating a long-term strategic path to profitability that supports Cedar’s business and product goals, while continuing to exceed the expectations of our customers and their patients," a company spokesperson said in a statement.
July 2 — LetsGetChecked: The Irish tech unicorn laid off a number of employees in early July, the Business Post reported.
The at-home testing company founded by Peter Foley in 2015 declined to say how many employees had been laid off, but said the move came on the back of a number of recent acquisitions.
June — 4 companies
June 24 — Ro: The digital health startup, which hit a $7 billion valuation back in February, laid off 18% of its workforce amid a market downturn.
In a note sent to all employees Thursday, which was shared with Fierce Healthcare, Ro CEO Zachariah Reitano said the company took steps in the past six months to prepare for possible economic downturn including raising additional capital and narrowing its focus.
'We came to the unfortunate conclusion that we needed to make more significant changes to manage expenses, increase the efficiency of our organization, and better map our resources to our current strategy," Reitano said in the companywide note.
June 8 — Truepill: The San Mateo based let go 15% off its workforce, around 150 employees across the country.
June 2 — Carbon Health: The hybrid primary care company that banked a hefty $350 million funding round a year ago, cut 8% of its global workforce, or about 250 employees, the company announced.
In a blog post, Carbon Health CEO Eren Bali cited the volatile capital markets as one key reason for the layoffs as well as concerns about the company's bottom line.
"For the last few years, we have been more focused on topline revenue growth, patient acquisition, patient retention and service expansion, and we have been less focused on profitability," he wrote.
He said the company needs to be less focused on growth and more focused on profitability.
June 2 — Cerebral: Embattled startup Cerebral, a mental telehealth company backed by prominent investor SoftBank, cut back staff as part of an effort to restructure its operations.
In an emailed statement, a Cerebral spokesperson said the company's leadership team is launching an organizational review aiming to simplify Cerebral's structure, reinvest in its core business and "double down on quality" to make the company more efficient.
Cerebral is mired in a federal investigation into its prescribing practices and "possible violations" of the Controlled Substances Act.
April
April 28 — Noom: The weight-loss app laid off 180 coaches, Insider reported.
A coach for the platform told the publication Noom planned to lay off 315 more employees within the next 10 days, offering voluntary severance options.