Hinge Health, a digital healthcare company specializing in treating chronic musculoskeletal conditions, recently laid off approximately 10% of its workforce. The layoffs affected employees across various functions, including engineering roles. Prior to the layoffs, Hinge Health had over 1,700 employees. The company stated that the decision to realign the organization was aimed at accelerating the path to profitability and making more focused investments. Hinge Health expressed gratitude for the contributions of the departing team members and emphasized its commitment to supporting them during the transition. The layoffs coincide with the company’s preparations for an IPO and its goal of achieving profitability. Hinge Health, valued at $6.2 billion in October 2021, has raised a total of $828 million in funding. Its main competitor, Sword Health, backed by General Catalyst and Khosla Ventures, was valued at $2 billion in November 2021.
