Apr 29, 2024 01:04 PM IST
Healthify layoffs: The company said that the restructuring was necessary to achieve profitability in India and ensuring global expansion at the same time.
Healthify layoffs: Healthify fired 150 employees as part of a restructuring exercise in the company, it was reported. Tushar Vashist- company’s co-founder and CEO- told Inc 42 that the move was aimed at making Healthify’s India business profitable and expanding its presence in the US market. He said, “In the next three-four months, our India business will turn EBITDA profitable and this restructuring was an unfortunate but an important step in line with achieving this. We also have to make sure we have enough resource allocation for the global expansion.”
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Tushar Vashist also reiterated that the restructuring was necessary to achieve profitability in India and ensuring global expansion at the same time. The company said that it offered comprehensive severance packages, extended insurance coverage and job placement assistance to the impacted employees.
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HealthifyMe, commonly known as Healthify, was founded in January 2012 by Tushar Vashisht, Mathew Cherian and Sachin Shenoy.
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The services offered by Healthify include digital tools aimed at improving nutrition and fitness, HealthifySnap which allows users to track their meals by taking photos, AI Coach Ria which is a personalized AI health coach that offers tailored guidance, among others.
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