(Bloomberg) -- Headspace Health, the maker of a popular meditation and mental-health mobile app, cut about 50 jobs, or 4% of its workforce, the latest internet startup to scale back as funding dries up and economic growth decelerates.

The Santa Monica, California-based company had about 1,200 workers before eliminating the positions last week, a spokesperson said on Wednesday. Headspace competitor Calm, another meditation app, let go about 20% of its 400-person staff in August. “We are taking this step to equip Headspace Health as a long-term, sustainable business that can weather various economic environments while continuing to execute on our mission,” the company said in a statement.

During the pandemic, anxious locked-down consumers flocked to meditation apps like Headspace. While the company grew, the pressure increased for employees, and some even said they attended therapy to relieve the stress of working at the meditation app, Bloomberg reported earlier this year. 

In September, Headspace said it had acquired Shine, another app that provides meditation-related content. The deal came about a year after Headspace merged with Ginger, which offers mental-health coaching via text message, swelling the combined company’s ranks from 300 to more than 1,000.

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