Headspace Meditation App Cuts 50 Workers, or 4% of Staff

Headspace Health, the maker of a popular meditation and mental-health mobile app, cut about 50 jobs, or 4% of its workforce, the latest internet startup to scale back as funding dries up and economic growth decelerates.

The Santa Monica, California-based company had about 1,200 workers before eliminating the positions last week, a spokesperson said on Wednesday. Headspace competitor Calm, another meditation app, let go about 20% of its 400-person staff in August.

“We are taking this step to equip Headspace Health as a long-term, sustainable business that can weather various economic environments while continuing to execute on our mission,” the company said in a statement.