Online healthcare platform Practo has laid off around 10% of its workforce amounting to 150 employees as part of its annual performance appraisal and redundancies due to acquisitions.
“Yesterday, 150 of our colleagues left the company to pursue opportunities outside. This is a combination of natural redundancies that emerge as we integrate our 5 acquisitions and evolve our businesses, as well as the performance required for the next phase of Practo’s growth,” a company spokesperson said in an email response.
In line with the company’s policy, it provides employees with two months pay, employment and outplacement services to help them find their next great opportunity, the statement added.
Practo has acquired five firms — FitHo, Genii, Insta Health Solutions, Qikwell and Enlightiks. However, the company said it will continue hiring people.
“We continue to rapidly grow our consumer and enterprise businesses and will continue to hire talent across the board,” the spokesperson said.
Practo has so far raised $179 million in various rounds of funding with latest round of funding being in January this year.