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Meditation and Mental Health Society Headspace Health confirmed that it had laid off 181 workers, around 15% of its workforce.
The cuts are the second round of layoffs for the company in the past year. In December, it laid off approximately 4% of its workforce, i.e. approximately 50 employees.
Company CEO Russell Glass announced the recent layoffs in an internal memo to employees, saying the company had underestimated the impact of the current economic environment on consumer behavior.
“With the privilege of supporting the mental health and well-being of millions of people around the world also comes a great responsibility to focus on the health of our business and protect it for the future. June 29 , we announced several significant changes to our strategy and organizational structure at Headspace, including reducing the size of our workforce by 15%.
“These changes will equip the business for the future and set a solid path to profitability. We are deeply grateful to the employees we have said goodbye to and are committed to supporting them through this transition period,” said a Headspace Health spokesperson. MobiHealthNews in an email.
THE GREAT TREND
In 2021, Headspace Health was formed by merging from meditation app Headspace and mental health company Ginger.
Since the union, the company has picked up other mental health-focused startups, including Sayanamaker of AI-based mental health and sleep tracking apps, and Brilliant applicationa mental wellness platform focused on culturally competent and inclusive offerings.
In January, the digital mental health society said he would start offering its clinical care services to businesses in the UK and expand into other international markets in 2023.
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