Healthify Layoffs: Company Restructures to Enhance Profitability and Global Presence
Healthify, a prominent health and fitness application, has reportedly dismissed 150 employees as part of a comprehensive restructuring strategy. This move is intended to optimize Healthify’s India operations for profitability and accelerate its expansion into the United States market.
Tushar Vashist, Healthify’s co-founder and CEO, explained to Inc 42 that the restructuring is crucial for ensuring the company’s long-term success. He emphasized that within the next three to four months, Healthify’s India business is anticipated to achieve EBITDA profitability, and this restructuring is an essential step in that direction. Vashist also stressed the need to allocate sufficient resources to support the company’s global expansion plans.
Healthify has stated that comprehensive severance packages will be provided to affected employees, including extended insurance coverage and assistance with job placement. Tushar Vashist reiterated that the restructuring is vital for achieving profitability in India while simultaneously pursuing global expansion. The company’s services encompass various digital tools designed to promote nutrition and fitness, such as HealthifySnap, which enables users to monitor their meals through image capture, and AI Coach Ria, which offers personalized guidance based on artificial intelligence.
Founded in January 2012 by a team including Tushar Vashisht, Mathew Cherian, and Sachin Shenoy, HealthifyMe (commonly known as Healthify) has consistently evolved its offerings. The company’s goal is to empower individuals on their health journeys by providing tools and support that cater to their unique needs. Healthify’s commitment to innovation and customer satisfaction has contributed to its position as a leading player in the health and fitness industry.
