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

Ericsson wins Greenland 5G deal
Telecoms industry eager for Mexican regulator to adopt speedy Wi-Fi 6
Elon Musk set to showcase Tesla's humanoid robot after delay
Concern over 'diet pills' being promoted on TikTok
Saudi Arabia outlines plans to invest US$38bil in esports
Man pretends to be his son to ask teen girls for nude photos on Instagram, US cops say
Japan's Kioxia to cut wafer input volume for flash chip production by 30% at two plants
Makeshift WiFi spot reconnects shattered Ukraine city
Meta rivals want no part of defending its many addiction suits
Software robots are gaining ground in white-collar office world

Others Also Read