April 9, 2023
1 min read

Practo lays off 41 employees

The company said in a statement that upholding a high bar for performance and productivity is crucial to maintaining this level of growth….reports Asian Lite News

Leading digital healthcare platform Practo has laid off 41 employees, mostly engineers, as part of the company’s continuous performance management and planning process, as the funding winter continues.

The layoffs affected the engineering department the most, especially roles like product managers and software engineers, etc.

The company said in a statement that 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,” a Practo spokesperson added.

Practo, however, clarified layoffs and the business’s financial performance have no connection.

“Our revenue, margins, and profits are at an all-time high,” said the company.

“In the past year, we have hired over 500 talented individuals, and we plan to add another 500 ‘Practeons’ to our team in the next 12 months, including backfill,” it added.

Practo has raised more than $228 million so far. In August 2020, the healthtech platform received $32 million led by Hong Kong-based AIA Group.

The platform is present in more than 20 countries, helping over 30 crore patients, by connecting them with more than one lakh verified doctor partners.

ALSO READ: Fantasy sports gaming revenue to ride on IPL 2023

Previous Story

India exploring possibilities of investing in mines abroad

Next Story

India hits Rs 85000 cr worth mobile phone exports

Latest from Business

PM Modi: India poised to lead next tech wave

PM Modi underscored that the country is poised to lead the next wave of digital transformation in 5G…reports Asian Lite News Prime Minister Narendra Modi on Wednesday hailed India’s progress in expanding

India Hits 100GW Solar

The expansion is not only in scale but also in quality, with significant capacity dedicated to high-efficiency modules. Many manufacturers have adopted vertically integrated operations, enhancing quality, reducing costs, and improving resilience

Jewellery Exports Shine Bright

The GJEPC noted that product diversification has played a major role in sustaining momentum. Lightweight and contemporary designs are gaining traction among younger global consumers, helping Indian jewellers appeal to a wider

China Curbs Hit India’s Electronics Boom

The ICEA noted this results in delays, inefficiencies, and higher costs — alternatives from Japan or Korea cost up to four times more than Chinese machinery. India’s transformation into a global electronics
Go toTop