Noom Layoffs
October 2022
Noom announced a layoff affecting 500 employees (10% of its workforce) in October 2022. The company operates in the Fitness sector.
500
10%
Oct 11, 2022
About
In October 2022, health tech startup Noom conducted its second round of layoffs in a matter of months, cutting approximately 500 employees, which represented about 10% of its total staff. This reduction primarily impacted the company's coaching team, bringing the number of coaches down to around 1,000, nearly half of what it was at the start of the year. The layoffs occurred amid the departure of the company's CFO and were framed by the company as a restructuring effort to ensure long-term growth, despite Noom having achieved $400 million in revenue in 2020 and being valued at $3.7 billion the previous year. This move signaled a strategic shift away from its core emphasis on personalized coaching services.
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