Pristyn Care Lays Off 120 Employees
Pristyn Care, a healthcare unicorn headquartered in Delhi NCR, is undergoing a restructuring drive that may result in about 120 job losses, according to Inc42 sources.
The startup has begun retrenchments, affecting personnel from multiple teams. According to reports, this approach corresponds with Pristyn Care's aim of achieving profitability in the fiscal year 2024-25 (FY25) before going public in 2027.
Affected employees will receive a severance package depending on their notice period, including expedited vesting of their ESOPs. The company has extended medical insurance coverage to impacted employees and their families for the next six months.
A spokesperson for the startup confirmed the layoffs, stating, "As part of the transformation, specific adjustments to the workforce structure will be made, affecting less than 7 to 8 per cent of the 1,700 employees, with the majority in entry-level and support functions."
Pristyn Care is currently focused on profitability before launching its initial public offering (IPO). As a result, the company has exited cities and discontinued categories with insufficient momentum.
Pristyn Care has abandoned six tier-II cities and discontinued three categories - hair removal, skincare, and general dentistry operations - in order to redirect resources to its main areas of focus.
The representative emphasised the extensive operational reform in recent months. The initiative's goal is to streamline operations, improve efficiency and elevate patient care across multiple areas.
