Indian startup Healthify lays off 30% workforce amidst plans for global expansion

Healthify, a Bengaluru-based healthtech startup, has laid off around 30 per cent of its workforce as part of a restructuring exercise aimed at achieving profitability for its India business by 2024. The layoffs, confirmed by CEO Tushar Vashist, come as the company prepares for a significant expansion into the US and other global markets.

Affected employees will be provided with comprehensive severance packages, extended insurance coverage, and job placement assistance. This move follows a previous round of layoffs in December 2021, when around 150 employees were let go.

Healthify told Business Today, "We deeply understand the impact of these changes on our affected employees and will provide them robust support during this transition, including comprehensive severance packages, extended insurance coverage, and job placement assistance."

The company further added, "At Healthify, we are committed towards achieving profitability for our India business in 2024. Concurrently, we are preparing for a significant expansion into the US and other global markets this year, where we are actively building capacity for future growth. In alignment with these goals, we have made the difficult decision of restructuring our team to streamline operations."

Despite these challenges, Healthify has raised around $130 Mn in funding and reported a 23% increase in revenue from operations in FY23 compared to FY22. The company competes with the likes of UltraHuman, Cult.fit, and one8 Fitness in the health and fitness market.