HealthifyMe Layoffs

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HealthifyMe, a Bengaluru-based healthtech and fitness startup, has laid off 150 employees, representing 15-20% of its total workforce, as part of a restructuring effort amid economic uncertainties. The layoffs, confirmed in early 2023, primarily affected roles in SME, quality analytics, product, and marketing. The company cited slower-than-expected growth, shifting market dynamics, and a strategic pivot toward its new "HealthifyMe 2.0" vision focused on metabolic health as key reasons for the move, aiming to steer toward profitability despite having a comfortable cash runway. Affected employees will receive a severance package including two months' salary, vested stocks, extended medical coverage, and outplacement support. This follows a period of significant funding, including a $75 million Series C round in 2021, but also an eightfold increase in net loss to INR 157 crore in FY22.

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