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Saturday, April 8, 2017

Job Cut: Practo Technologies sacks 150 employees

According to report, Healthcare platform Practo Technologies has laid off 150 people as a part of the annual performance cycle and redundancies from acquisitions. Practo has offered two months of pay and the option of staying on company rolls for the duration of two months besides outplacement services. The company has 1500 employees.

Also read: SBI job cuts may reduce 10% workforce and to cut hiring

Practo spokesperson said, Every year, we follow an annual performance cycle in April where some Practeons leave us to look for opportunities outside. The same has been followed today and 150 of our colleagues are leaving us. This is a combination of performance and natural redundancies that emerge as we evolve our businesses and integrate our five acquisitions.

Recently Practo had raised $55 million in a Series D funding led by Chinese internet conglomerate Tencent .

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