Glamyo Health, a Delhi-based health-tech startup, has recently terminated a significant number of employees. The company is said to have laid off the employees without giving them advance notice or providing transparent details about their final salary settlements.
The news created a frenzy on internet when a former staff member filed a complaint against the company for sudden termination of employees. The complaint accused Glamyo of not only dismissing employees without giving them advance notice but also mentioned experiencing frequent delays in salary payments over the past few months.
Following the complaint, a former employee emphasised that the downsizing has also impacted numerous doctors who were affiliated with the startup. As per media reports, the statement also mentioned that the startup laid off 50 employees in the last two months as a part of its cost cutting strategy. Additionally, all the employees left without getting any severance package and the right reasoning behind the sudden decision.
Reportedly, there are allegations stating that the cofounders of Glamyo Health, Archit Garg and Preet Pal Thakur, have purportedly expressed their intention to leave India by June 4, 2023. This alleged plan involves a complete shutdown of operations and the termination of all employees.
Glamyo Health, which was founded in 2019, collaborates with hospitals and clinics to offer elective surgeries and cosmetic procedures. The company also hires doctors and medical coordinators to ensure smooth patient care throughout the entire process, from discharge to insurance clearance.
In September 2021, Glamyo Health successfully raised $3 million in a funding round, with notable investors such as Anicut Capital, LetsVenture, Ananta Capital, and Agility Ventures. However, like many other startups, Glamyo Health is currently facing a challenging outlook due to the decline in fundraising opportunities and unfavourable business conditions since early 2022.