Cerebral didn’t say how many jobs would be cut in its latest round of layoffs.
Photo:
Stephanie Aaronson/The Wall Street Journal
Cerebral Inc. is cutting 15% of its workforce, the latest round of layoffs at the telehealth startup.
The layoffs are part of Cerebral’s yearlong plan to reorganize the company and focus on the services patients want, a spokesman for the company said Monday. The spokesman didn’t say how many jobs would be cut, or what areas would be affected. The layoffs were earlier reported by Business Insider.
Cerebral, which launched in 2020, attracted hundreds of thousands of patients with social-media ads and quick prescriptions for attention-deficit hyperactivity disorder and other mental-health conditions, The Wall Street Journal has reported. The company had a valuation of $4.8 billion in 2021, less than two years after it launched, according to PitchBook, which tracks private companies.
Some of Cerebral’s business practices have become the subject of investigations by the Federal Trade Commission and the Justice Department. Cerebral has said it is cooperating with the investigations and has stopped prescribing most controlled substances to new patients, including Adderall.
The company laid off 20% of its employees in October, as part of an effort to meet patient demand and lower growth targets. It also cut some contract jobs last summer, including nurse practitioners, the Journal reported.
Cerebral had 2,500 employees as of March 2022, before the layoffs, according to PitchBook.
Write to Joseph Pisani at joseph.pisani@wsj.com
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8
Cerebral didn’t say how many jobs would be cut in its latest round of layoffs.
Photo:
Stephanie Aaronson/The Wall Street Journal
Cerebral Inc. is cutting 15% of its workforce, the latest round of layoffs at the telehealth startup.
The layoffs are part of Cerebral’s yearlong plan to reorganize the company and focus on the services patients want, a spokesman for the company said Monday. The spokesman didn’t say how many jobs would be cut, or what areas would be affected. The layoffs were earlier reported by Business Insider.
Cerebral, which launched in 2020, attracted hundreds of thousands of patients with social-media ads and quick prescriptions for attention-deficit hyperactivity disorder and other mental-health conditions, The Wall Street Journal has reported. The company had a valuation of $4.8 billion in 2021, less than two years after it launched, according to PitchBook, which tracks private companies.
Some of Cerebral’s business practices have become the subject of investigations by the Federal Trade Commission and the Justice Department. Cerebral has said it is cooperating with the investigations and has stopped prescribing most controlled substances to new patients, including Adderall.
The company laid off 20% of its employees in October, as part of an effort to meet patient demand and lower growth targets. It also cut some contract jobs last summer, including nurse practitioners, the Journal reported.
Cerebral had 2,500 employees as of March 2022, before the layoffs, according to PitchBook.
Write to Joseph Pisani at joseph.pisani@wsj.com
Copyright ©2022 Dow Jones & Company, Inc. All Rights Reserved. 87990cbe856818d5eddac44c7b1cdeb8