(Bloomberg) -- The meditation app maker Calm is laying off 20% of its about 400-person staff, the company said Thursday.
Calm’s chief executive officer, David Ko, wrote in a memo to employees, “It is especially difficult for a company like ours whose mission is focused on workplace mental health and wellness.” He said the company would hold “a more in-depth discussion on the future of the business” for remaining staffers on Friday.
Calm, which raised money at a $2 billion valuation in 2020, reigned as the No. 1 stress-reduction app for at least the last three years through May, according to Data.ai, a mobile analytics firm. The job cuts were first reported by the Wall Street Journal.
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