Noom lays off about 500 employees; CFO exits

Noom has let go of about 500 employees in another round of layoffs for the weight loss and dieting app, TechCrunch reported.

The job reductions affect 10 percent of the company's staff, mainly from the health coaching side, according to the Oct. 11 story.

"Noom has experienced extraordinary growth over the past several years, and it's essential that we are structured in a way that enables us to continue growing over the long term," a Noom spokesperson emailed the news outlet. "We recently made the difficult decision to reduce the number of Noom employees. We are deeply grateful for their contributions to Noom, and we wish them continued success."

Separately, Noom CFO Mike Noonan left for the same position at Tripadvisor, The Wall Street Journal reported Oct. 11, a move the company told TechCrunch is unrelated to the layoffs.

Noom previously cut the jobs of 495 employees in May amid a challenging year for digital health companies. Founded in 2008, Noom has raised more than $650 million to date, according to Crunchbase, and was reportedly valued at more than $3.7 billion last year.

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