News Summary
Dozee, a Bengaluru-based healthcare startup has laid off 20% of its workforce.
The layoffs reportedly affected 40-50 employees.
The affected employees are from the customer success, on-field staff, marketing, and sales teams.
Bengaluru Healthtech Startup Cuts 20% of Workforce to Curb Losses, according to INC42 report.
The Layoff affected 40-50 employees, The company has taken these major steps to avoid company losses.
Dozee was started in 2015 by Mudit Dandwate and Gaurav Parchani, now facing financial losses and difficulties. According to sources, the layoffs were not based on the performance of individual employees but were a strategic move to reduce financial losses. The impacted employees will receive severance packages per their notice periods.
Financial Overview:
- Revenue Decline: 33% decrease to INR 2.1 crore in FY23 from INR 3.1 crore in FY22.
- Increased Losses: 175% increase in losses to INR 84.4 crore in FY23 from INR 30.6 crore in FY22.
- Employee Costs: Increased fivefold to INR 54 crore in FY23.
- Marketing Expenditure: Doubled to INR 4 crore in FY23.
- Overall Expenditure: Rose 160% to INR 87.8 crore in FY23. According to pune.news.
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