Health tech company Innovaccer lays off 90 employees

Innovaccer, a company that provides cloud services to healthcare organizations, has laid off about 8 percent of its workforce, or 90 employees, a spokesperson confirmed to Becker's.

"Given current economic conditions, we implemented a small workforce reduction to optimize our structure and initiatives," Innovaccer co-founder and CEO Abhinav Shashank said in a statement to Becker's. "These cuts will help us improve business efficiency and take the right steps toward profitability as we continue our rapid growth."

Mr. Shashank added that the move "will enable us to continue to deliver outstanding technology solutions and customer support, while creating the financial flexibility to accelerate innovation in key growth areas."

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