Health Startup Calibrate Cuts 24% of Workers in Restructure

Calibrate Health Inc., which was able to raise $100 million in the last fiscal year, has cut 22 percent of their employees as part of a restructuring program designed to bring the health-related startup closer to being profitable.

The company, based in New York, was established in the year 2019 and was a pioneer in attempting to treat obesity through measures such as diet, exercise and medications. The reductions in staff were affecting about 156 of the 652 employees working in various roles within the business, were announced on the 8th of July.

"As an outcome from the restructuring process, the business expands its runway and speeds up its journey to profitability," CEO Isabelle Kenyon said in an email statement.Source: https://bit.ly/3ILx3my