Practo Layoffs: Healthtech Platform Sacks 41 Employees, Mostly Engineers

New Delhi, April 8: Leading digital healthcare platform Practo has laid off 41 employees, mostly engineers, as part of the company's continuous performance management and planning process, as the funding winter continues.

The layoffs affected the engineering department the most, especially roles like product managers and software engineers, etc. The company said in a statement that upholding a high bar for performance and productivity is crucial to maintaining this level of growth. Amplitude Layoffs: US-Based Software Firm Sacks 13% of Workforce Globally Amid Tough Macroeconomic Conditions.

"Therefore, as part of our continuous performance management and planning process, we had to part ways with 41 employees in accordance with their employment contracts," a Practo spokesperson added.

Practo, however, clarified layoffs and the business's financial performance have no connection. "Our revenue, margins, and profits are at an all-time high," said the company.

"In the past year, we have hired over 500 talented individuals, and we plan to add another 500 'Practeons' to our team in the next 12 months, including backfill," it added. Tech Layoffs: Over 23,000 Employees Lose Jobs in Nearly 82 Indian Startups to Date.

Practo has raised more than $228 million so far. In August 2020, the healthtech platform received $32 million led by Hong Kong-based AIA Group. The platform is present in more than 20 countries, helping over 30 crore patients, by connecting them with more than one lakh verified doctor partners.

(The above story first appeared on LatestLY on Apr 08, 2023 03:03 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).