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Zomato-backed CureFit slashes 120 roles

By Nithya Bose in Business News, posted January 25, 2024

CureFit, a fitness startup backed by Zomato, announced the reduction of 120 positions as part of a company-wide restructuring effort.

This move affected employees across various branches, including Cultfit, Sugar.fit, and Carefit.

The company said: "As part of our regular annual operating planning process, we have reduced some redundant positions with the aim of streamlining operations."

It added: “This is aimed at improving productivity and setting us up for full profitability in FY25.

“We have done this with thoughtful consideration and with the interest of creating long-term value for our stakeholders.”

CureFit, established in 2016 by Ankit Nagori and Mukesh Bansal, has faced similar challenges.

In 2020, the startup laid off approximately 800 employees.

The company operates various health and wellness verticals, including Care.fit for primary care, Mindfit for mental health, and Cultfit for physical fitness.

Ankit Nagori has since left the company to concentrate on his new venture, Curefoods, a direct-to-consumer cloud kitchen aggregator.

InMobi, a mobile advertising company backed by Softbank, reportedly plans to axe 125 employees or about 5 percent of its 2,500 headcount.

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