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Alphabet-owned life sciences firm Verily is downsizing 15% of its workforce to simplify its operating model, according to a company blog post. The move comes just months after the company raised $1 billion.

The blog post, which contains the email sent by Chief Executive Stephen Gillert to all its employees, notes that the downsizing is part of the company’s One Verily program, which aims to reduce redundancy and simplify operational aspects within the company.

“I have promised you all transparency in what we’re doing, and this means we have eliminated approximately 15 percent of Verily roles due to discontinued programs… and redundancy in the new, centralized organization,” Gillert said in the post.  

Verily, which has approximately 1,600 employees, is expected to let go of close to 240 employees. The company did not respond to an email requesting comments.

Analysts cheered Verily’s move to streamline operations.

“Verily’s strategy to opt out of its remote patient monitoring and multiple channels of engagement enables it to streamline its operations, to better align with healthcare ecosystems, which are more patient-centric with better risk management,” said IDC Research Director Calvin Lau, and Senior Research Manager Manoj Vallikkat.

Copyright © 2023 IDG Communications, Inc.


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