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January 12, 2023 12:00 PM

Verily cuts 15% of staff, shakes up exec team

Gabriel Perna
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    Verily

    Verily, a precision health company and subsidiary of Google parent company Alphabet, is laying off around 15% of its employees, the company said in a blog post Wednesday. 

    Verily CEO Stephen Gillett said the layoffs were due to the company’s larger restructuring efforts and elimination of certain programs. The company is discontinuing its analytics tool, Verily Value Suite, as well as specific projects in remote patient monitoring for heart failure and microneedles for drug delivery.

    Some employees will be reassigned but many will leave the company, Gillett said. A total of 200 employees are affected, according to a report in The Wall Street Journal.

    “While these programs are promising and led by talented [employees], and some of their innovations will integrate into our other core solutions, we cannot do everything and have had to make some difficult choices,” Gillett said in the post. 

    Amid economic headwinds, other big tech firms with a hand in healthcare have similarly cut jobs including Salesforce and Amazon. Overall, the digital health industry has been hit hard by layoffs with several companies cutting jobs. 

    As part of its restructuring, Verily co-founder and chief medical officer Dr. Jessica Mega is leaving the company along with Dr. Vivian Lee,president of health platforms, according to a report from STAT. Dr. Amy Abernethy has been promoted to chief medical officer. Abernethy was a former official at the Food and Drug Administration before coming to Verily.

    In September, Verily raised a $1 billion investment to support the expansion of its precision health business, specifically focused on real world evidence generation, healthcare data platforms, research and care and underlying technology. In the blog, Gillett said the company is focusing its efforts on precision health and evidence-based platforms. 

    Like other big tech firms, Alphabet has had its challenges in disrupting the healthcare industry. Google Health’s president Dr. David Feinberg left for EHR vendor Cerner in 2021 and the company discontinued having its health projects under a single unit.

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    • Blogs
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      • From the Editor
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        • Nominate/Eligibility
        • 100 Most Influential People
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        • Top 25 Emerging Leaders
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        • Diversity in Healthcare
          • - Luminaries
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          • - Leaders to Watch
        • Women in Healthcare
          • - Luminaries
          • - Top 25 Women Leaders
          • - Women to Watch
      • Conferences
        • Digital Health Transformation Summit
        • ESG: The Implementation Imperative Summit
        • Leadership Symposium
        • Social Determinants of Health Symposium
        • Women Leaders in Healthcare Conference
      • Galas
        • Best Places to Work Awards Gala
        • Health Care Hall of Fame Gala
        • Top 25 Diversity Leaders Gala
        • Top 25 Women Leaders Gala
      • Virtual Briefings
        • - Hospital of the Future
        • - Value Based Care
        • - Hospital at Home
        • - Workplace of the Future
        • - AI and Digital Health
        • - Future of Staffing
        • - Hospital of the Future (Fall)
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