Practo is the latest Indian startup to lay off employees. As per media reports, the healthcare startup has laid off 41 employees due to performance issues. Mint could not independently verify the update.
Bengaluru-based Practo is an integrated healthcare company, and is funded by 14 investors. CapitalG and Sofina are the most recent investors.
The company, which was largely competing in the medicine delivery and doctor consultation space, was building the infrastructure for secondary healthcare, sharpening focus on chronic care and exploring acquisitions, Practo co-founder and CEO Shashank N.D. spoke about the newer forays and revenue drivers to Mint in September 2021.
Practo interconnects the health ecosystem including patients, doctors, hospitals, pharmacies, and diagnostics.
Technology giants Google, Microsoft and Facebook have announced massive job cuts in the last few months, amid global economic uncertainty. Digital consumption soared during the years of the pandemic, prompting companies to diversify portfolios and scale up hiring.
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