Mental health startup Cerebral to slash 15% jobs in latest round

In one of its most recent rounds of layoffs, telehealth startup Cerebral Inc. plans to reduce its workforce by 15%. The restructuring is part of the company's year-long plan to eliminate unnecessary expenses and refocus on the services that patients require, according to a spokesperson.

It is uncertain how many employees will be affected or which departments will be impacted.

The news was initially reported by Business Insider. 

Cerebral gained attention on social media in 2020, attracting hundreds of thousands of patients with social media ads and speedy prescriptions for various mental health disorders.

The company's valuation was estimated at $4.8 billion by PitchBook in 2021, less than two years after its launch. 

Cerebral has been investigated by the Federal Trade Commission and the Justice Department for its business practices. In response, the company has stated that it is cooperating with the investigations. Moreover, it has ceased prescribing most controlled substances, including Adderall, to new patients.