Layoffs at GoHealth

Online insurance broker GoHealth has announced layoffs, eliminating around 800 jobs. According to LinkedIn, the company has around 2,600 employees prior to these layoffs.

The CEO of the public company, Vijay Kotte, sent a note to employees stating that the company is taking the difficult but necessary step of significantly reducing its agent workforce and support teams.

The Chicago-based company, which sells medicare products, went public in 2020. At one point, a share of GoHealth traded for ~$20, but today, a single GoHealth share has a price tag of 60 cents.

In the first quarter of 2022, GoHealth reported a net loss of $37.2 million.