Roughly 90 out of 400 Calm employees were laid off, according to The Wall Street Journal. The popular meditation app is known for its wellness app of the same name. The company's CEO sent a memo to employees on Thursday, the report said. The memo was sent by CEO David Ko to employees.

Ko began serving as CEO this summer when co-founders Michael Acton Smith and Alex Tew moved into co-chairman roles. He had been named co-CEO in February when Calm acquired Ripple Health Group. Founded in 2012, the San Francisco-based startup was valued at $2 billion in 2020.

"The challenges that the pandemic has brought on society will continue even as we return to work and normal life," he says. "The challenges will continue as we go back to work," he adds. "We will continue to face the challenges that we face as a society," he warns.
Posted by
Tap to Copy the Short Url to This Post: 
One-Stop Business News backed by Mark Cuban. Free to Use →