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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.
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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.
We strive to uphold the highest ethical standards in all of our reporting and coverage. We StartupNews.fyi want to be transparent with our readers about any potential conflicts of interest that may arise in our work. It’s possible that some of the investors we feature may have connections to other businesses, including competitors or companies we write about. However, we want to assure our readers that this will not have any impact on the integrity or impartiality of our reporting. We are committed to delivering accurate, unbiased news and information to our audience, and we will continue to uphold our ethics and principles in all of our work. Thank you for your trust and support.
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