Wheel Layoffs
August 2022
Wheel announced a layoff affecting 35 employees (17% of its workforce) in August 2022. The company operates in the Healthcare sector.
35
17%
Aug 18, 2022
About
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.
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