Wheel

Wheel laid off 56 employees representing approximately 28% of its workforce on 2023-02-01.

In August, digital-health startup Wheel, valued at over $1 billion, laid off 35 employees, representing 17% of its workforce. The Austin-based company, which provides virtual-care infrastructure and clinician networks, made the cuts on August 18 as part of a strategic shift to prioritize building its own integrated platform over a marketplace of solutions. CEO Michelle Davey cited the need to focus on quality and adapt to uncertain economic conditions, noting that the move aligns with long-term goals to enhance the clinician and patient experience. This reflects a broader trend of belt-tightening across the digital health sector amid market volatility.