Doximity to cut workforce by 10%

Doximity, a digital platform for U.S. medical professionals, stated it will reduce its current workforce by 10 percent, accounting for 100 employees.

The announcement was made Aug. 8 as part of the organization's fiscal 2024 first quarter financial results report. The report stated that the motivation behind the cutback is to "simplify its operations and better align its resources with its priorities."

Doximity has predicted a restructuring charge between $8 and $10 million to be earned largely during the second quarter of the fiscal year 2024. The employee layoffs and changes are predicted to be completed by the third quarter of fiscal year 2024.

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