New Delhi, March 1 (IANS) Healthcare unicorn Pristyn Care has slashed around 120 jobs in a restructuring exercise, impacting employees across teams, the media reported on Friday.
According to Inc42, citing sources, the restructuring exercise is part of the company’s plans to turn profitable in the financial year 2024-25 (FY25) before going public in 2027.
“As part of the transformation, specific adjustments to the workforce structure will be made, affecting less than 7 to 8 per cent of the 1,700 employees, with the majority in entry-level and support functions,” a company’s spokesperson, was quoted as saying.
“These changes are essential to align with the company’s strategic vision of efficiency, performance excellence, and long-term sustainability,” it added.
A severance package based on their notice period will be provided to the employees, and their ESOP vesting will also be accelerated, the report mentioned.
The startup has also extended the medical insurance coverage for the impacted workers and their families for the next six months.
Last year, Pristyn Care reportedly sacked up to 350 employees across departments and impacted employees from sales, tech and product teams.
However, the startup at the time told Inc42 that it fired only around 45 employees based on their performance.
Meanwhile, Pristyn Care registered a 45 per cent growth in revenue to Rs 453 crore in FY23, as its losses grew at 38.2 per cent to Rs 383 crore in the last fiscal year.
–IANS
shs/prw
Disclaimer
The information contained in this website is for general information purposes only. The information is provided by TodayIndia.news and while we endeavour to keep the information up to date and correct, we make no representations or warranties of any kind, express or implied, about the completeness, accuracy, reliability, suitability or availability with respect to the website or the information, products, services, or related graphics contained on the website for any purpose. Any reliance you place on such information is therefore strictly at your own risk.
In no event will we be liable for any loss or damage including without limitation, indirect or consequential loss or damage, or any loss or damage whatsoever arising from loss of data or profits arising out of, or in connection with, the use of this website.
Through this website you are able to link to other websites which are not under the control of TodayIndia.news We have no control over the nature, content and availability of those sites. The inclusion of any links does not necessarily imply a recommendation or endorse the views expressed within them.
Every effort is made to keep the website up and running smoothly. However, TodayIndia.news takes no responsibility for, and will not be liable for, the website being temporarily unavailable due to technical issues beyond our control.
For any legal details or query please visit original source link given with news or click on Go to Source.
Our translation service aims to offer the most accurate translation possible and we rarely experience any issues with news post. However, as the translation is carried out by third part tool there is a possibility for error to cause the occasional inaccuracy. We therefore require you to accept this disclaimer before confirming any translation news with us.
If you are not willing to accept this disclaimer then we recommend reading news post in its original language.
