Bangalore-based healthcare startup Practo has sacked around 150 employees as a part of its annual performance cycle.
“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,” a company spokesperson told ET.
The Google-funded startup has offered two-month salary to employees who have been asked to leave.
Earlier this week, Practo in a blog announced that it plans to expand its services and enable players from areas like insurance sector, medical devices manufacturers and pharmaceuticals on the platform.
It competes with the likes of Lybrate and Ziffi in the segment.
The company has so far raised USD 179.52 million in funding from investors such as CapitalG (formerly known as Google Capital), Tencent, Sequoia Capital and others.