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

TechCrunch LogoTechCrunch1w ago

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

Quick Summary

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.

Another source says that the announcement was unexpected, and that current employees were told about the workforce reduction via Zoom without the chance to ask any questions.

The absence of new investors signaled that the company stuck to people who already have financial stakes in the company’s future success.


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Article Details

Author / Journalist: Natasha Mascarenhas

Category: Technology

Topics: Ro TC Health Digital health

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2022-06-23, 22:11:05

News Timezone: GMT -5:00

News Source URL: techcrunch.com

Language: English

Reading Time: 4 minutes read

Article Length: 586 words

Coverage Area: United States

Availability: Desktop Web, Mobile Web

News ID: 6516

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