Executives with Santa Monica-based Ontrak Inc. confirmed in early May that the company had laid off 35% of its workforce in March following the loss of its largest contract with health insurer Aetna.
Ontrak has developed a technology platform that draws on medical data and telehealth communications to help its health plan customers manage patient behavioral health treatment costs.
With Ontrak disclosing in its annual report that it had 726 employees as of Dec. 31, the 35% cut in the workforce translates to roughly 250 employees.
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The Layoff List was created in 2019 and is free for the community. Tips reported are left anonymous unless they explicitly ask to be included as a source. We verify a majority of tips and include independent sources, but for tips that we are unable to verify we separately categorize them as unverified reports to avoid misrepresentations.