Framingham healthcare tech firm lays off 4% of workforce
PHOTO | Courtesy of Google Maps
The Framingham offices of Definitive Healthcare
Framingham healthcare data and technology firm Definitive Healthcare completed layoffs Monday of approximately 4% of its workforce, impacting more than 40 employees. This is the second round of layoffs the company has performed in 2023.
The Monday layoffs primarily impacted the commercial and sales team, according to an email sent to employees by Definitive Healthcare CEO Robert Musslewhite obtained by WBJ. The decision came after the company did not reach revenue benchmarks for the first half of the year.
Employees who were laid off had their last day on Monday, and were given three-months salary continuation and benefits continuation for six months, according to the email.
Musselwhite cited macroeconomic factors, a challenging economy, and changed customer behaviors.
“Customers are taking longer to make purchase decisions, have smaller budgets, and in many cases, are deferring any decision by six months or more. While we are still growing as a company, we’re not growing as fast as we had planned, and our first half revenue expansion was behind plan. As a result, we’ve had to adjust our cost structure again,” he said in the email.
In January, Definitive Healthcare laid off approximately 6% of its workforce. The company had 974 employees in 2022, according to Pitchbook data.
Boston Business Journal first reported this news.
This layoff comes weeks after Waters Corp. in Milford announced layoffs of 4% of its Milford workforce, and Marlborough-based Boston Scientific closed a California facility, resulting in 54 layoffs.
WBJ Web Partners
Most Recent
Most Recent
0 Comments