US-based telehealth startup Cerebral has announced to lay off around 15 per cent of its workforce in a fresh round of job cuts, The Wall Street Journal reported.
The layoffs are part of Cerebral’s year-long plan to reorganize the company and focus on the services patients want.
Cerebral, which launched in 2020, has attracted hundreds of thousands of patients through social media ads and quick prescriptions for ADHD (attention-deficit hyperactivity disorder) and other mental health conditions.
According to PitchBook, which tracks private companies, the telehealth startup had a valuation of $4.8 billion in 2021, less than two years after it launched.
In October last year, Cerebral laid off 20 percent of its employees, as part of an effort to meet patient demand and lower growth targets.
Cerebral had 2,500 employees as of March 2022, before the layoffs.
