Indonesia-based health tech startup Halodoc has conducted layoffs in a bid to “ensure better productivity,” the company said in a statement on Tuesday.
The exact number of employees affected is unknown. Halodoc is estimated to have around 1,500 staff.
Funding and Operations
The layoffs come after the firm raised $100 million in Series D funding from Astra Digital International in July.
Founded in 2016, Halodoc operates an online platform connecting users with licensed doctors and pharmacies. The company has raised $258 million to date.
Cuts for Sustainable Business Growth
Halodoc said the cuts were necessary to maintain “sustainable business growth,” though did not provide further details.
Layoffs among health tech firms have risen recently amid a funding slowdown. Industry leader Babylon Health cut 20% of staff in May.
Streamlining Operations
While difficult, scaling down headcount can help startups reduce costs and streamline operations as they work towards profitability.
Halodoc will aim to maintain productivity and growth despite the smaller team. But the layoffs underscore the challenges facing health tech firms during current economic conditions.
