Carbon Health, a healthcare company that offers virtual care, said in a letter Thursday that it laid off 25% of its workforce.
The CEO said that they hired some of the most talented and mission driven people on Earth. The company would be lucky to have them. If you are hiring, please contact us at alumni@carbonhealth.com.
Yesterday was the hardest day at @carbonhealth since we started the company 6 years ago. We had to take a difficult action in order to reduce the size of our global workforce to adapt to the changing market conditionshttps://t.co/R6o1eqWBA5
— Eren Bali (@erenbali) June 2, 2022
Carbon Health was started six years ago by the same person. Carbon Health raised over $500 million in venture backed investments over the course of the next few years.
The most recent was a $350 million Series D round in July 2021. The Series C round was covered by us.
The decision to let go of staff was outlined in a letter by the author. Some of its business lines were winding down. Both pop-up clinics and at- home test kits were developed in 2020.
Carbon Health's patient volume increased between its Series D and its Series C raise in November 2020.
Since the beginning of the Pandemic, the company has doubled its staff to 1,600 and opened over 80 clinics in 12 states. The Series D had a goal of growing to 1,500 clinics.
A shift to focus on profitability was one of the reasons why the staff was laid off. It's important that we become less focused on growth and more focused on profitability because of the volatile capital markets.
Impacted employees were told via1:1 conversations and offered separation packages that included extended healthcare coverage and outplacement support.
Carbon Health joined a list of companies that had to scale back their workforces due to growth during the Pandemic. Halycon Health was one of the health tech companies that had layoffs this year.
Tech layoffs top 15K in a brutal May
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