California dream ends for fifth of Calm wellness app staff | Business


It achieved pop-culture status, A-list acclaim and a $2 billion valuation with the promise of bringing peace of mind to the workplace. That is a well from which’s California workers may now wish to draw.

In a memo sent to the 400 employees at the wellness and meditation app’s headquarters in San Francisco yesterday, David Ko, its new chief executive, said that about a fifth were being axed.

“Regrettably, today we are reducing our overall workforce by 20 per cent,” Ko’s email said. “While some of you will be impacted, all of you will be affected. I can assure you that this was not an easy decision, but it is especially difficult for a company like ours whose mission is focused on workplace mental