Healthtech startup Phablecare appears to have laid off hundreds of employees in the last few months.
Since October, more than 70% of the healthcare startup’s workforce has been either laid off or parted ways due to salary delays. In August 2022, the company had over 800 employees. However, its workforce has shrunk dramatically to 200 people. High cash burn after its last funding round, combined with the inability to raise additional funds, has put the healthcare startup in a bind.