Scoop: Digital health startup Ro is laying off 18% of its employees

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Digital-health startup Ro just slashed 18% of its staff months after hitting a $7 billion valuation. We got the CEO's full note explaining the layoffs.

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The laid-off workers were notified Thursday morning in one-on-one conversations with management, according to Reitano.

While we took steps over the last 6 months to prepare for a possible downturn, including raising additional capital and narrowing our focus, we came to the unfortunate conclusion that we needed to make more significant changes to manage expenses, increase the efficiency of our organization, and better map our resources to our current strategy.

For people on leave and those who have already informed the People Team that they are planning to go on parental leave, we will honor that leave and pay severance on top of that. To those departing, there is no doubt in my mind that Ro would not be where it is today without you. Thank you, from the bottom of our hearts, for building with us. We are deeply grateful that you chose to devote your incredible talents to helping others with their health. While we know words can only go so far, we are sorry we won't continue the journey together.

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