In October 2023, transgender healthcare telehealth startup Plume laid off more than two dozen employees, representing approximately one-sixth of its workforce. The company, which had raised a $24 million Series B round about a year prior, confirmed the layoffs as part of a strategic shift to accelerate its fee-for-service business model, aiming to make gender-affirming care more accessible and affordable. This restructuring occurred amid a challenging funding environment for many venture-backed companies and a rising number of state-level legislative efforts to restrict trans healthcare in the U.S. Plume stated it continues to offer its services, including hormone therapy memberships and support letters, while providing severance and support to affected staff.
