Startup Winter Continues, Haunted by Profitability Target

Several major startups have laid off employees due to unstable business conditions. One of them is the health tech startup Halodoc. Based on reports, Halodoc has laid off 350 employees, which comprises 20 percent of its technical and other departments. However, Halodoc's management has not officially disclosed the exact number of employees affected by the layoffs.

Halodoc Vice President of Government Relations and Corporate Affairs Adeline Hindarto said the layoffs occurred due to macroeconomic, political, and geopolitical challenges affecting their business. She mentioned that the changes necessitated all business entities to adapt continuously, periodically evaluate business strategies, and transform to ensure the best approach to cope with industry dynamics. "We need to prepare an organization that is responsive to future changes, and for that, the company needs to rightsize," she said on Wednesday.

Meanwhile, the NFT marketplace provider startup OpenSea has laid off 50 percent of its workforce. A spokesperson for OpenSea stated that the company was making significant organizational and operational changes. "Alongside our focus on building a more nimble version of OpenSea," as quoted from Decrypt on Nov 4. Employees affected by the layoffs will receive their entitled benefits.