Practo Technologies sacks 150 employees as part of annual performance cycle

BENGALURU: Healthcare platform Practo Technologies has laid off close to 150 people as a part of the annual performance cycle and redundancies from acquisitions, said a company spokesperson.

The company has about 1,500 employees. Practo had raised $55 million in a Series D funding led by Chinese internet conglomerate Tencent, in January.

"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," said a company spokesperson.

Practo has offered two months of pay and the option of staying on company rolls for the duration of two months besides outplacement services to employees who have been asked to go