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<ul><li><keyword id="1165142" type="General" weightage="90" keywordseo="practo" source="Orion">Practo</keyword> has laid off 41 employees, mostly engineers, as part of the company's continuous performance management and planning process.</li><li>The company said in a statement that upholding a high bar for performance and productivity is crucial to maintaining this level of growth.</li><li>Practo, however, clarified layoffs and the business's financial performance have no connection.</li></ul>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 <keyword id="154704" type="General" weightage="50" keywordseo="aia-group" source="Orion">AIA Group</keyword>. 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. SEE ALSO: <a href="https://www.businessinsider.in/tech/news/cert-in-warns-of-high-severity-vulnerabilities-in-apple-products-urges-immediate-action/articleshow/99231900.cms">CERT-In warns of high-severity vulnerabilities in Apple products, urges immediate action</a> <a href="https://www.businessinsider.in/tech/news/googles-new-features-to-simplify-travel-planning-including-a-mobile-friendly-hotel-browsing-feature-a-price-guarantee-badge-for-flights-and-more/articleshow/99235884.cms">Google’s new features to simplify travel planning, including a mobile-friendly hotel browsing feature, a price guarantee badge for flights, and more</a>

Healthtech platform Practo lays off 41 employees, mostly engineers

New Delhi, Homegrown healthtech startup <keyword id="13174019" type="General" weightage="100" keywordseo="kenko-health" source="Orion">Kenko Health</keyword> has laid off 20 per cent of its employees across functions, a media report said. According to Entrackr, citing sources, the company fired at least 50-60 employees, however, the number could be higher. It was also trying to raise Series B funding. In February last year, Kenko Health raised $12 million in a Series A round led by <keyword id="17626875" type="General" weightage="50" keywordseo="peak-xv-partners" source="Orion">Peak XV Partners</keyword> (formerly <keyword id="122716" type="General" weightage="50" keywordseo="sequoia-capital" source="Orion">Sequoia Capital</keyword> India). Existing investors Beenext, Orios, 9Unicorns, and Waveform also participated in the round. According to the report, the startup has already fired these employees over the past few weeks. Bengaluru-based Kenko Health offers a subscription-based service that covers health expenses across OPD and hospitalisation, in partnership with insurance companies. It also provides healthcare plans for large corporations, small and medium-sized businesses, individuals, and families. Its monthly subscription plan ranges from Rs 175 to Rs 950. The company claims to have over 2,20,000 subscribers and to have served more than 2,00,000 corporate clients. In April, leading digital healthcare platform Practo 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.

Healthcare startup Kenko Health lays off 20% of workforce across functions

India’s tech hub sees most layoffs along with sharpest dip in hiring

As part of the annual performance cycle, <a href="http://www.businessinsider.in/searchresult.cms?query=practo&amp;sortorder=effectivedate">Practo</a> Technologies has <a href="http://www.businessinsider.in/searchresult.cms?query=lay-offs&amp;sortorder=effectivedate">laid-off</a> nearly 150 employees. 
 <keyword id="1165142" type="UNKNOWN" weightage="20" keywordseo="Practo">Practo</keyword>’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 <a href="http://www.businessinsider.in/searchresult.cms?query=tencent&amp;sortorder=effectivedate">Tencent</a>. 
 
"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.

You Searched For "Practo layoffs" and got 4 results

Healthtech platform Practo lays off 41 employees, mostly engineers

IANS

Healthcare startup Kenko Health lays off 20% of workforce across functions

IANS

India’s tech hub sees most layoffs along with sharpest dip in hiring

Katya Naidu

Practo Technologies fires 150 employees

BI India Bureau

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