Meditation startup Calm cuts 20% of its 400 employees


Calm, which raised money at a US$2bil (RM8.88bil) valuation in 2020, reigned as the No 1 stress-reduction app for at least the last three years through May, according to Data.ai, a mobile analytics firm. The job cuts were first reported by the Wall Street Journal. — Calm

The meditation app maker Calm is laying off 20% of its about 400-person staff, the company said on Aug 11.

Calm’s chief executive officer, David Ko, wrote in a memo to employees, “It is especially difficult for a company like ours whose mission is focused on workplace mental health and wellness.”

ALSO READ: The ‘crying CEO’ says he loves his employees – even those he laid off

He said the company would hold “a more in-depth discussion on the future of the business” for remaining staffers on Aug 12.

Calm, which raised money at a US$2bil (RM8.88bil) valuation in 2020, reigned as the No 1 stress-reduction app for at least the last three years through May, according to Data.ai, a mobile analytics firm. The job cuts were first reported by the Wall Street Journal. – Bloomberg

Article type: free
User access status:
Subscribe now to our Premium Plan for an ad-free and unlimited reading experience!
   

Next In Tech News

Kenya's Safaricom launches network in Ethiopia as first private operator
Google's new Pixel Watch faces hurdles with economy, no iPhone support
Twitter slips as investors await funding details on Musk's $44 billion deal
Exclusive-Apple wins 2/3 cut in French antitrust fine to 372 million euros - sources
Phone shatters on woman’s head after it falls from fair ride, Oklahoma video shows
Google's Russian subsidiary files lawsuit against state bailiffs - court documents
Iliad enters in fibre deal with Fastweb to expand broadband offer in Italy
The case of the vanishing deposit: US woman defrauded in catfishing check scam that reveals vulnerability of bank accounts
Date turns violent when man is stabbed by woman he met on dating app, US cops say
Virtual climate reality: Can ‘digital twins’ help protect us from disasters?

Others Also Read