The same week Outcome Health held a press conference announcing plans to hire 2,000 additional jobs for its Chicago headquarters, the fast-growing company is seeing layoffs.
Outcome laid off dozens of workers at its Chicago and New York offices, according to Crain’s. Outcome, which employs around 600 people, confirmed the layoffs to Chicago Inno, saying in a statement that in “Q3 we have already hired as many employees as departed (Friday), and we continue to actively recruit new talent — with 14 new employees starting in just the next two weeks.”
The company did not specify exactly how many people were laid off.
Outcome launched in 2006 and creates digital wallboards that are placed in doctors’ exam rooms to help patients better understand their condition and engage with doctors at the point of care. Earlier this year the company raised more than $500 million at a $5 billion valuation, making it the most valuable tech company in Chicago and the 11th most valuable in the U.S.
The cutbacks come amidst fast growth for the health-tech company. It leased a 400,000-square-foot space at 515 N. State St., which it plans to move into in April and hold 2,400 employees by 2022. Around 231,000 healthcare providers in the U.S. use Outcome’s wallboards, and the company expects 70 percent of all U.S. physician practices to use it by 2020.
On Friday, Outcome President Shradha Agarwal tweeted, in part, “company growth decisions still aren’t easy.”
5yrs in or 10yrs into building this company, same perspective as yrs ago: company growth decisions still aren’t easy. pic.twitter.com/NBgp8d51zT
— Shradha Agarwal (@shr4dha) September 30, 2017