Healthcare Startup Practo Fires 41 Employees

The company confirmed the layoff news."Our revenue, margins, and profits are at an all-time high. Upholding a high bar for performance and productivity is crucial to maintaining this level of growth. Therefore, as part of our continuous performance management and planning process, we had to part ways with 41 employees in accordance with their employment contracts. As always, we are and will remain fully committed to providing the requisite support to all employees who may be impacted," it said.

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.