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<ul><li><keyword id="7716660" type="General" weightage="100" keywordseo="pristyn-care" source="Orion">Pristyn Care</keyword>, a Gurugram-based health-tech startup, has reportedly laid off 300 employees.</li><li>The company has recently fired 45 employees, citing underperformance.</li><li>Pristyn Care is backed by investors such as <keyword id="122716" type="General" weightage="50" keywordseo="sequoia-capital" source="Orion">Sequoia Capital</keyword> and <keyword id="526777" type="General" weightage="50" keywordseo="tiger-global" source="Orion">Tiger Global</keyword>.</li></ul>Gurugram-based health-tech startup Pristyn Care is the latest to join the list of companies laying off its workforce. In its latest round of layoffs, the company has fired 45 employees. The layoff wave has been arriving in ripples across the Indian companies after affecting thousands in the global market, including big names like <a href="https://www.businessinsider.in/tech/news/elon-musks-twitter-laid-off-more-than-90-of-staff-in-india-now-only-about-12-employees-remain-report-says/articleshow/95383606.cms">Twitter</a>, <a href="https://www.businessinsider.in/tech/news/meta-says-it-will-lay-off-more-than-11000-employees/articleshow/95405068.cms">Meta</a>, among many others. According to a<a href="https://inc42.com/buzz/exclusive-healthtech-unicorn-pristyn-care-trims-workforce-gst-officials-seek-clarity-on-biz-model/"> report</a> by Inc42, the Sequoia Capital and Tiger Global-backed health-tech firm has fired around 300 employees across departments in the last two months. <cmsannotation type="cmsannotation" annotationid="What does Pristyn Care do?" comment="subhead" text="What does Pristyn Care do?">What does Pristyn Care do?</cmsannotation> Pristyn Care is a health-tech company founded in 2018 by Dr <keyword id="345234" type="General" weightage="50" keywordseo="vaibhav-kapoor" source="Orion">Vaibhav Kapoor</keyword>, Dr <keyword id="12305824" type="General" weightage="50" keywordseo="garima-sawhney" source="Orion">Garima Sawhney</keyword>, and <keyword id="11127890" type="General" weightage="50" keywordseo="harsimarbir-singh" source="Orion">Harsimarbir Singh</keyword> that offers advanced secondary care surgeries across 800 hospitals, 200 clinics, and over 400 super-specialty surgeons. The company has so far <a href="https://www.businessinsider.in/business/startups/news/surgical-care-startup-pristyn-care-is-the-42-startup-to-be-valued-over-1-billion/articleshow/88157965.cms">raised</a> $177 million from Sequoia Capital, Tiger Global, Winter Capital and others. <cmsannotation type="cmsannotation" annotationid="15% of employees laid off" comment="subhead" text="15% of employees laid off">15% of employees laid off</cmsannotation> The fired employees make up around 15% of the company’s total workforce. The fired employees were junior and mid-level employees working in sales, administration, city teams, and others. The company has claimed that it has fired only 45 employees, and they were let-go due to underperformance. "We have a comprehensive performance evaluation process that helps us understand the efficiency levels across the board. This is a regular process and we found around 45 employees across the organization who were performing consistently below expectations and we had to part ways," a Pristyn Care spokesperson told Inc42. The company has, however, denied claims about a mass layoff and has claimed that it has hired over 300 employees in the last four months. The layoffs come at a time when the company is<a href="https://yourstory.com/2023/03/sequoia-backed-pristyn-care-lays-off-300-employees-shuts-medical-tourism-vertical"> reportedly</a> scaling down its international expansion segment focused on medical tourism. The segment reportedly failed to generate sufficient revenue. Pristyn Care is not the only healthcare startup that has laid off employees. Companies like PharmEasy, MediBuddy, and Innovaccer have recently announced layoffs. SEE ALSO: <a href="https://www.businessinsider.in/science/health/news/you-are-not-safe-from-air-pollution-anywhere-in-the-world-finds-a-new-study/articleshow/98471370.cms">You are not safe from air pollution anywhere in the world, finds a new study</a> <a href="https://www.businessinsider.in/business/auto/news/wedding-bells-ring-in-16-rise-in-february-auto-sales-2-wheeler-sales-yet-to-hit-pre-pandemic-levels-fada/articleshow/98443213.cms">Wedding bells ring in 16% rise in February auto sales, 2 wheeler sales yet to hit pre-pandemic levels: FADA</a> <a href="https://www.businessinsider.in/tech/gadgets/news/noise-and-fire-boltt-entered-in-top-five-in-global-smartwatch-shipments/articleshow/98171390.cms">These two Indian brands have together sold more smartwatches than Samsung in 2022</a>

Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months

US-based technology startup accelerator <keyword id="610465" type="General" weightage="100" keywordseo="y-combinator" source="Orion">Y Combinator</keyword> is laying off 17 employees -- or 20 per cent of its staff -- as it announced to scale back late-stage funding. The layoffs came as Y Combinator, which has invested in thousands of startups including at least 200 from India, wrote a petition to US Treasury Secretary <keyword id="116249" type="General" weightage="50" keywordseo="janet-yellen" source="Orion">Janet Yellen</keyword> and others in the wake of the <keyword id="630197" type="General" weightage="50" keywordseo="silicon-valley-bank" source="Orion">Silicon Valley Bank</keyword> (<keyword id="675965" type="General" weightage="80" keywordseo="svb" source="Orion">SVB</keyword>) collapse, asking them to prevent shockwaves that could lead to financial crisis and layoffs of more than 100,000 workers. The company, however, said the layoffs were planned before the SVB collapse. Y Combinator CEO <keyword id="4836111" type="General" weightage="50" keywordseo="garry-tan" source="Orion">Garry Tan</keyword> said in a statement that YC is rightly known for early stage investing. "In recent years, we have also done some late-stage investing. But late-stage investing turned out to be so different from early-stage investing that we found it to be a distraction from our core mission. So we're going to decrease the amount of late stage investing we do," he mentioned. As a result, "we will no longer need some of the roles on the late stage investing team. Seventeen of our teammates are impacted today," <keyword id="52681" type="General" weightage="80" keywordseo="tan" source="Orion">Tan</keyword> wrote. The YC CEO said this shouldn't have any noticeable effect on the companies it has funded. "YC is known primarily as a place where very early founders create something from nothing by simply applying online and joining the world's best founder community," said Tan. Over 1,200 CEOs and founders representing over 56,000 employees had signed the YC petition to save startups and hundreds of thousands of jobs. In the Y Combinator community, one-third of startups with exposure to SVB used SVB as their sole bank account. SEE ALSO: <a href="https://www.businessinsider.in/business/news/pristyn-care-has-reportedly-fired-300-employees/articleshow/98514449.cms">Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months</a> <a href="https://www.businessinsider.in/science/health/news/you-are-not-safe-from-air-pollution-anywhere-in-the-world-finds-a-new-study/articleshow/98471370.cms">You are not safe from air pollution anywhere in the world, finds a new study</a>

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Health-tech startup Pristyn Care has reportedly fired 300 employees in the last two months

Sourabh Jain

Y Combinator lays off 20% staff, scales back on late-stage investments

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