Pristyn Care Layoffs: Homegrown Healthtech Firm Sacks 350 Employees Across Departments
"We have a comprehensive performance evaluation process that helps us understand the efficiency levels across the board. This is a regular process and, we found around 45 employees across the organisation who were performing below expectations and we had to part ways," a Pristyn Care spokesperson was quoted as saying.
New Delhi, March 9: Healthcare unicorn Pristyn Care has reportedly sacked up to 350 employees across departments and impacted employees from sales, tech and product teams.
However, the startup told leading startup news website Inc42 that it fired only around 45 employees based on their performance. Google Layoffs: Tech Giant Now Begins Senior Level Job Cuts in China.
"We have a comprehensive performance evaluation process that helps us understand the efficiency levels across the board. This is a regular process and, we found around 45 employees across the organisation who were performing below expectations and we had to part ways," a Pristyn Care spokesperson was quoted as saying.
In December 2021, Pristyn Care raised $96 million in its Series E round, doubling its valuation in seven months to $1.4 billion and becoming a youngest healthtech unicorn. The round was led by Sequoia Capital, Tiger Global, Winter Capital, Epiq Capital, Hummingbird Ventures and Trifecta Capital. Salesforce Layoffs: Sacking 7,000 Employees in Two-Hour Call Was Bad Idea, Says CEO Marc Benioff.
Founded in 2018, Pristyn Care offers advanced secondary care surgeries through its network of more than 800 hospitals, over 200 clinics, and more than 400 in-house super-specialty surgeons.
The Gurugram-based startup has raised over $177 million to date. It acquired New Delhi-based healthcare startup Lybrate for an undisclosed amount last year.
In January this year, MediBuddy, an end-to-end digital healthcare platform in India, laid off 8 per cent of its workforce, around 200 people, across all departments as a restructuring exercise. The layoffs mostly impacted tech, product, sales, and operations teams.
(The above story first appeared on LatestLY on Mar 09, 2023 05:07 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).