Verily, a precision medical company and a subsidiary of Google’s parent company, Alphabet, is laying off about 15 percent of its employees, the company said in a blog post Wednesday.
Verily CEO Stephen Gillett said the layoffs were due to the company’s larger restructuring effort and the elimination of certain programs. The company is discontinuing its analytical tool, the Verily Value Suite, as well as specific projects in remote heart failure monitoring and microneedling for drug delivery.
Gillett said some employees will be reassigned but many will leave the company. A total of 200 employees were affected, according to a report in The Wall Street Journal.
“Even though these shows are promising and are led by talented people [employees]and some of their innovations will integrate into our other core solutions, we couldn’t do everything and had to make some tough choices,” Gillett said in the post.
Amid the economic downturn, other major healthcare-related tech companies also cut jobs, including Salesforce and Amazon. Overall, the digital health industry has been hit hard by layoffs with several companies cutting jobs.
