Healthcare Startup Practo Lays Off 41 Employees Of Its Workforce

Joining the spree of firms, health tech startup Practo laid off nearly 41 employees. According to media reports, the firm stated that it has fired a significant portion of its workforce based on performance.

However, the startup said in a statement that its revenue, margins, and profits are at an all-time high. To uphold this level of growth, maintaining productivity and performance is very crucial. The laid-off employees put out public posts on social media platforms and said the reason behind the layoffs was restructuring.

Bengaluru-based Practo is an integrated healthcare company that helps the stakeholders in the healthcare ecosystem connect with each other. Moreover, it integrates different parts of the patient's healthcare, from primary healthcare, finding and booking an appointment with verified doctors to consulting doctors online.

The healthcare startup, also makes software products that help healthcare providers, ranging from small clinics to large hospitals, digitise and deliver healthcare facilities to patients across the globe.

So far, Practo has secured USD 228.2 million in seven funding rounds. In August 2020, the startup received USD 32 million, led by Hong Kong-based AIA Group, in a Series D round. However, the fundraise was at 50 per cent of the valuation.