Glamyo, a health care startup that is known for its innovative approach, aims at personalized wellness, and has recently undergone a strategic restructuring that includes a series of layoffs.
Glamyo’s biggest investor, Agility Ventures, commented on the same saying, “We are evaluating the situation closely and we will assist Glamyo in navigating the situation once it has better clarity on the developments.”
Reacting to this move, a laid off Glamyo employee said, “The startup has allegedly not only terminated employees without prior notice but employees also faced repeated delays in salary payments over the past months.”
He added, “About 50 employees were let go in the last two months with the aim of cutting costs and containing losses. But almost all the employees were asked to leave in the last two days without any information of severance, salaries or reasoning.”
The Delhi based startup was founded in 2019 by Archit Garg and Dr Preet Pal Thakur. The startup gained traction and recognition for its innovative wellness platform, and it aims to provide their customers with personalized health and wellness solutions by utilizing advanced technology and insights with the help of data.
According to certain media reports, Glamyo had made a statement in 2022 saying that they were looking to double their manpower.
This move comes as the startup is seeking to optimize its operations and realign its focus amidst unpredictable market. Glamyo conducted this series of layoffs across various departments, streamlining its workforce to achieve greater efficiency and adaptability.