Collective Health, a well being advantages administration platform, has laid off 54 staff because it arranges its workforce to raised align with buyer wants.
The corporate’s CEO, Ali Diab, introduced the layoffs on LinkedIn, saying the staff have been being let go on account of a “workforce discount,” whereas urging corporations which will encounter these staff through the hiring course of to offer them with “sturdy consideration.”
Collective Well being acts as a third-party well being advantages administrator, bringing corporations’ numerous advantages into one platform to let employers handle their choices whereas helping staff with navigating their healthcare.
“We are able to affirm that as a part of a restructuring of our workforce, we made the tough determination to say goodbye to a small fraction of our workers on Monday. The purpose of this restructuring is to raised align and stability our sources with our product and buyer wants, in addition to to present market situations,” an organization spokesperson instructed MobiHealthNews in an electronic mail.
“Collective Well being prides itself as a fantastic place to work. That is due to how we deal with one another and take care of our staff. As we face the tough process of supporting our impacted staff, we’re holding ourselves accountable for bringing the identical care to their particular person transitions that we carry to our work day-after-day. For these corporations with open roles, we encourage you to be looking out for some fantastic, gifted people available on the market now.”
THE LARGER TREND
In 2021, the San Francisco-based firm scored $280 million in Series F funding, bringing the corporate’s valuation to $1.5 billion, becoming a member of the various digital well being companies that year to reach unicorn status.
The corporate additionally introduced its Premier Partnership Program, which might assist employers establish the best-fitting digital well being platforms for his or her worker inhabitants, calculate return on funding, decide scientific outcomes and provide suggestions primarily based on person knowledge.
This system was launched with behavioral well being startups Ginger, Lyra Health and Modern Health; telehealth major care suppliers 98point6 and Teladoc Health; continual situation administration firm Livongo; household planning startups Carrot Fertility and Progyny; most cancers startup AccessHope; and musculoskeletal startup Hinge Health.
Two years earlier, the worker advantages platform raised $205 million in a Series E funding spherical, and a yr prior collected $110 million in funding.
A number of different corporations present healthcare advantages help, together with Nayya, Pebble and HealthJoy.
