India, May 15 -- Healthtech unicorn Innovaccer fired 340 employees today in a restructuring exercise, sources told Inc42.

This is the startup's third layoff round in the past four years. The layoffs impacted employees across teams in India and the US, the sources added. They said that the reason behind the layoffs was the startup's transition to an AI company.

In an internal mail, Innovaccer cofounder and CEO Abhinav Shashank said that the startup is transitioning into an AI-native company.

Confirming the development, the startup, in a statement, said, "As part of a global organisational change, Innovaccer is aligning its team to current business priorities. We are building an organisation that is lean, fast and focused, which prioriti...