New York-based Nomad Health, which offers an online job portal for temporary healthcare workers, has laid off 17% of its workforce as it adjusts to the post-pandemic job market.
Nomad provides a staffing marketplace for temporary workers, allowing users to search for job openings nationwide, search by pay and specialty, apply for positions and manage their resume.
Alexi Nazem, CEO of Nomad, confirmed the company let go of 119 employees, according to Forbes.
“Nomad Health is a company built around providing care — to clinicians, clients, patients and staff. Like so many companies globally, we have been confronting a major shift in the post-pandemic economy. We had to realign our staffing to match the activity in the market, which is extremely fluid. After cutting non-personnel-related spending and management teams taking pay cuts, we made a difficult decision to let go of 17% of our team,” a company spokesperson told MobiHealthNews in an email.
“Our leadership team has met face-to-face with every single impacted employee, and we’ve offered a range of severance packages starting at six weeks’ pay, which increase based on tenure, as well as transitional healthcare coverage and job placement services.”
THE LARGER TREND
In June, Nomad scored a whopping $105 million in financing, bringing its total raise to more than $200 million. The funding round came less than a year after the company garnered $63 million in new equity and debt financing.
Staffing shortages were exacerbated by the COVID-19 pandemic, which has caused some healthcare professionals to seek safe staffing standards to protect against high patient loads.
Several companies in the digital health space are trying to address the need for more healthcare workers, including nurse staffing platforms IntelyCare, ShiftMed and Incredible Health and Dallas-based ShiftKey, a startup that connects healthcare workers and facilities with open shifts.
The layoffs at Nomad Health come after a plethora of health tech and digital health firms have announced the need to let go of workers due to the changing economic climate.