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Polygon lays off 60 employees to “enhance performance”
Thehindubusinessline · 1y ago Medial
Blockchain company Polygon has announced that it is implementing layoffs, with 60 employees, or approximately 19% of its workforce, being let go. The move is said to be aimed at right-sizing the team and improving performance. The company has also mentioned that it will be offering severance packages and health benefits through the end of February. Polygon will be increasing overall compensation and rolling out a streamlined leveling system. Additionally, it plans to restructure its business by spinning off its Polygon Ventures and Polygon ID teams.
TikTok lays off employees to reduce costs
Economic Times · 1y ago
Medial
TikTok has laid off a certain number of employees in its sales and advertising division in an effort to reduce costs. While reports vary, it is estimated that around 60 to at least 100 employees were asked to leave. This move follows a series of job cuts from other tech companies, including Google and Amazon. Despite the layoffs, TikTok still has around 7,000 employees in the US and over 150 million active users in the country.
Kenko Health shuts down; investors drag insurtech startup to NCLT
Economic Times · 11m ago
Medial
Insuretech startup Kenko Health has closed down due to a lack of funds. The company, backed by investors including Sequoia Capital India and Orios Venture Partners, was taken to the National Company Law Tribunal by a debt fund. Kenko had not paid its employees for several months and had previously laid off 20% of its workforce. The startup had applied for a health insurance license but needed fresh funds. However, a proposed investment plan was opposed by some existing investors, resulting in a stalemate. Kenko's founders held a 36% stake in the company, with Peak XV, Beenext, and Orios having smaller stakes. The startup had raised $13.7 million in funding and recorded a net loss of $8.5 million in fiscal 2023.
Zopper lays off 100 employees amid cost-cutting measures
Inshorts · 3m ago
Medial
An insurance-focused SaaS startup, Zopper, has laid off approximately 100 employees in 2025. The latest round occurred in April, affecting around 50 members of the tech and product teams. Earlier this year, the company also dismissed 20 employees from these teams and its entire 40-person insurance staff. The layoffs are reportedly part of ongoing cost-cutting measures.
Exclusive: Hinge Health, a virtual physical therapist, lays off 10% of its workforce
TechCrunch · 1y ago
Medial
Digital health company Hinge Health has reportedly laid off around 10% of its workforce as it looks to streamline operations and achieve profitability. The company, which offers a digital solution for treating chronic musculoskeletal conditions, did not disclose the exact number of employees affected but had over 1,700 prior to the layoffs. Hinge Health is currently preparing for an initial public offering (IPO) and was last valued at $6.2 billion. Its main competitor is Sword Health, which was valued at $2 billion in November 2021.
Healthify lays off 150 employees to make India business profitable
Livemint · 1y ago
Medial
HealthifyMe, a health and fitness firm, has laid off 150 employees as part of its restructuring effort to make its India business profitable and expand in the US market. The CEO, Tushar Vashist, stated that the goal is to achieve profitability in India in the next few months while ensuring enough resources for global expansion. This is the third round of layoffs for the company in the past two years. HealthifyMe had about 1,000 employees prior to this restructuring. Severance packages, insurance coverage, and job placement assistance have been provided to the affected employees.
Insurtech startup Kenko Health stares at shutdown: What went wrong?
Economic Times · 1y ago
Medial
Insurtech startup Kenko Health is struggling to continue operations due to a shareholder battle. The company, backed by Peak XV Partners and Orios Venture Partners, had applied for a health insurance license but is facing difficulties in raising capital. Talks to secure funding from the Hero Group had previously taken place. However, the future of Kenko Health remains uncertain as it becomes increasingly challenging to sustain operations.
Unacademy lays off 250 employees
Inshorts · 1y ago
Medial
Edtech unicorn Unacademy has laid off 250 employees across several departments, media reports said. Around 100 laid-off employees were from core functions like marketing, business and product, while the rest were from sales. "As part of our ongoing efforts to streamline operations and enhance business efficiency, we have recently undergone a restructuring exercise," an Unacademy spokesperson said.
ShareChat lays off about 200 employees across verticals
Economic Times · 1y ago
Medial
Social media platform ShareChat has laid off around 200 employees, constituting 15% of its workforce, as part of a restructuring effort to cut costs and achieve profitability in the next 4-6 quarters. Backed by Google and Temasek Holdings, ShareChat is also reportedly seeking $50 million in new funding at a valuation below $1.5 billion. This move has primarily impacted roles in the company's product functions.
Bizongo lays off about 50 staffers after closing $50 million round
Economic Times · 1y ago
Medial
Bizongo, a business-to-business vendor-digitisation platform, has laid off around 50 employees, accounting for about 15% of its workforce, following a funding round of $50 million. The Mumbai-based startup, which offers vendor management and supply-chain automation services, made the decision to drive sharper focus on key business priorities. The funding round, led by existing investors, valued Bizongo at $980 million. The company aims to improve its performance and restructure itself as it seeks profitability.
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