Tech »  Topic »  Ro cuts 18% of staff despite narrowing focus, raising additional capital

Ro cuts 18% of staff despite narrowing focus, raising additional capital


Ro, a healthcare unicorn that last raised $150 million just months ago at a $7 billion valuation, has cut 18% of its staff to “manage expenses, increase the efficiency of our organization and better map our resources to our current strategy,” leadership wrote in an e-mail obtained by TechCrunch and confirmed by multiple sources.

“Due to our obligation to protect patient healthcare information, there will not be a transition period for those departing the company,” the e-mail continues. “We know that this will feel abrupt and hope you can find alternative ways to connect to say goodbye to your teammates.” Impacted employees will get two months of severance pay and support for job placement. The healthcare unicorn is offering two months of paid healthcare benefits.

Ro confirmed the news to TechCrunch and provided a copy of the aforementioned e-mail that CEO Zachariah Reitano sent to staff. A spokeswoman said that ...


Copyright of this story solely belongs to techcrunch.com/enterprise/ . To see the full text click HERE