Teladoc Health is laying off 6% of its non-clinician workforce, 300 employees, according to an email from CEO Jason Gorevic sent to employees Wednesday.
Gorevic attributed the cutbacks to the elimination of redundant roles born out of mergers and a companywide restructuring aimed at increasing profitability, according to a copy of the email included in a filing (PDF) with the U.S. Securities and Exchange Commission (SEC).
Gorevic said more information about the new organizational structure would be shared directly with affected teams today. The telehealth giant acquired chronic care management company Livongo Health in 2020 for a whopping $18.5 billion. “At this stage in both our evolution as an enterprise and given the challenged economic environment, we believe that balanced growth is the right step for us as a well-run company,” Gorevic wrote in the email to employees. “And so, after taking several non-people cost-saving actions, including ongoing real estate and systems consolidations, we concluded that today’s moves were necessary.”