Wearable fitness technology company Whoop has laid off 15 percent of its workforce as part of a restructuring.
“The current macro environment has created new challenges and uncertainty, and we are committed to building a durable business that can withstand whatever economic climate we find ourselves in,” Whoop said. “A reduction like this is never easy, and we sought to ground this process in empathy and compassion.
The job reductions impacted employees across departments. Whoop said, “The company is deeply appreciative of the contributions from these talented individuals.”
Whoop collects and analyzes physiological metrics, including sleep and heart rate, and computes its proprietary strain and recovery scores to guide fitness and wellness.
Founded in 2012 by Will Ahmed, a former Harvard University student-athlete, the Boston-based company raised more than $400 million with recent funding in August 2021.
Elite athletes have supported the high-tech fitness tracker, including LeBron James, Tiger Woods and Michael Phelps, and it has partnerships with NFLPA, PGA Tour, LPGA Tour, and WTA.