Practo, a healthtech startup with over 1,600 employees, has laid off 41 staff members, representing a small percentage of its workforce, as part of its ongoing performance management process. The company stated the decision was based on performance issues and not a broader restructuring, emphasizing its commitment to supporting affected employees. Despite the layoffs, Practo reported record-high revenues, margins, and profits, and plans to hire 500 new employees in the coming year. This move aligns with a trend of retrenchments in the Indian healthtech sector, where several startups have conducted layoffs amid funding challenges and performance evaluations.
