According to employees interviewed by Moneycontrol, healthtech business MFine, owned by Novocura Tech Health Services, has cut off around 500 employees due to a financial shortage at the Beenext and Stellaris-backed startup.
According to insiders, the Bengaluru-based business employs around 1,000 people and has laid off workers in the data science, engineering, and product areas. A few individuals in the talent acquisition team were also laid off after being asked to hire in the last few weeks. Employees were informed that the company is short on finances and will not be able to pay salaries in the next months.
According to employees interviewed by Moneycontrol, healthtech company MFine, which is owned by Novocura Tech Health Services, has laid off about 500 people due to a cash crunch at the Beenext and Stellaris-backed company.
The Bengaluru-based company employs roughly 1,000 individuals, according to insiders, and has laid off personnel in the data science, engineering, and product departments. After being asked to hire in the last several weeks, a few members of the talent acquisition team were also laid off. Employees have been warned that the company is experiencing financial difficulties and will be unable to pay salaries in the coming months.
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