HealthcareUS

Innovaccer Layoffs

September 2022

Innovaccer announced a layoff affecting 90 employees (8% of its workforce) in September 2022. The company operates in the Healthcare sector.

People Affected

Percentage

Announced Date

Sep 1, 2022

About

Healthtech unicorn Innovaccer, backed by Tiger Global and valued at $3.2 billion, laid off 90 employees on September 1, representing less than 8% of its workforce. The layoffs primarily affected the tech team, including managers and leads, and were attributed by the CEO to optimizing the cost structure amid current economic conditions. This move comes just nine months after the company doubled its valuation with a $150 million funding round. Impacted employees were offered a three-month severance package. The decision surprised many staff, as leadership had recently indicated strong performance.