layoffs

A memo sent to employees from CEO David Ko said the company is "not immune to the impacts of the current economic environment."

Virtual care company Included Health said it reduced its headcount by less than 6%, while prescription digital therapeutics maker Pear Therapeutics laid off about 9% of its full-time workforce.

Olive announced a $400 million investment round in July 2021.

In a post on LinkedIn, CEO and cofounder Florian Otto said the cuts will allow the company to "adapt to current market realities, and re-organize ourselves for what we want to achieve following last year's acquisition of OODA Health."

CEO Eren Bali said the company was winding down some of its COVID-19-related services and plans to shift its focus from growth to profitability.

The cuts equal a 14% reduction in the consumer genomic company's workforce. 

Cuts to the network's government funding triggered the layoffs, but OTN describes them as a restructuring for efficiency.

The insurtech startup announced $500 million in new funding just a few months ago.