Santa Monica, California-based Headspace, a subsidiary of Headspace Health, specializing in meditation and mental health apps, has announced a 15% reduction in force in its second round of layoffs.
Approximately 181 employees, mostly those involved in meditation content creation, will be impacted by this latest reduction in force. The abrupt layoff included 33 therapists, who were suddenly de-platformed and unable to reach their clients.
According to Chief Executive Officer Russell Glass, "With the privilege of supporting the mental health and wellbeing of millions of people around the world also comes great responsibility to focus on the health of our business and safeguard it for the future. On June 29th, we announced several important changes to our strategy and organizational structure at Headspace, including reducing the size of our workforce by 15%."
"These changes will equip the company for the future and pave a strong path to profitability. We’re deeply grateful for the employees we said goodbye to and are committed to supporting them through this time of transition,"
"The company had underestimated how much the current economic environment would affect consumer behavior but remained committed to being cash-flow positive in 2024 so that we aren’t reliant on outside funding to serve our members.”
“These changes will equip the company for the future and pave a strong path to profitability."
Change is coming. There will always be a tomorrow, no matter how much you may try to ignore it. There are no guarantees in life or promises for a bright future. We see good people being laid off through no fault of their own. Just because something bad hasn't happened yet, doesn't mean it won't. It can happen to anyone, anytime, anywhere. No one is guaranteed to wake up tomorrow and still have a job by evening. Are you now wondering, Am I Next?