Softbank-backed health unicorn Cerebral to lay off 20% of its staff

SoftBank-backed digital mental health company Cerebral is laying off about 20 per cent of its staff as it restructures its business.

According to The Wall Street Journal, nearly 400 people will lose their jobs, primarily clinical staff and care counselors.

A memo from its CEO, David Mou said the cuts would affect employees across the company, including at headquarters and among clinical care staff and support workers.

“The changes are part of Cerebral’s ongoing transformation programme, which drives to create more sustainable growth and stability, while further delivering our mission to democratise access to high-quality mental health care for all,” a Cerebral spokesperson was quoted as saying in reports.