Future Of British Business
UK Health App Babylon Plans Job Cuts in Bid to Slash Costs
- Cuts part of a plan to reduce costs by as much as $100 million
- Clinical safety, compliance teams affected, sources say
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Health tech company Babylon Holdings Ltd. is in talks to cut about 100 jobs across its global business as part of a plan to reduce costs and become profitable, people familiar with the matter said.
Babylon said on Wednesday it intends to slash costs by $100 million during the third quarter of this year to “accelerate its path to profitability,” but hadn’t specified how it would impact jobs. The company averaged 2,572 employees in 2021, according to a regulatory filing.