Practo Technologies fires 150 employees

As part of the annual performance cycle, Practo Technologies has laid-off nearly 150 employees.

Practo’s spokesperson said it is also a part of redundancies from acquisition.

In January, Practo, which employs 1,500 employees, raised $55 million in a Series D funding led by Tencent.

"Every year, we follow an annual performance cycle in April where some Practeons leave us to look for opportunities outside. The same has been followed today and 150 of our colleagues are leaving us. This is a combination of performance and natural redundancies that emerge as we evolve our businesses and integrate our five acquisitions," said a company spokesperson.

Recently, Practo also changed it logo and identity and increased focus on stakeholders as well.