AlayaCare, a Montréal-based healthtech startup, has laid off 80 employees, representing nearly 14% of its workforce. The cuts were announced by CEO Adrian Schauer in an email to staff, citing the need to become cash-flow breakeven by the end of 2023 amid challenging macroeconomic conditions. The company has faced slower sales cycles and lower-than-expected revenue growth, prompting a shift from its previous aggressive investment and acquisition strategy. As part of broader cost-cutting measures, AlayaCare has also scaled back merger and acquisition plans and let go of office leases in Victoria and Queens. The layoffs, described as a difficult decision, impact teams across geographies, particularly on the acquired products side. Founded in 2014, AlayaCare provides an AI-powered platform for home healthcare providers and recently raised $225 million CAD in Series D funding last year.
