Olive AI lost over 20 more of its top talent, less than a month after seeing more than 20 high-profile personnel leave, Erin has learned.
Why is this important: The $4 billion healthcare automation company that boasts a star investor roster continues to shed talent and has now frozen hiring.
Where is it : Olive froze hiring effective May 23, according to company-wide emails seen by Erin that read in part, “Is this a hiring freeze? Yes.”
- The suspension comes after the company suspended hiring in March. Three sources told Erin at the time that the hiatus was due to issues maintaining her budget and occurred amid a previous staff outing.
By the numbers: In the last month or so, at least 24 other employees have left the company, according to five current and former employees and confirmed by Erin on LinkedIn, including:
To note : Olive’s executive vice president of engineering, Sundar Raghavan, who hails from Facebook, Amazon and Google, had only been with the company for five months, according to two current employees.
What they say : All five current and former employees say turnover has become a constant feature of the company. These sources cite a variety of factors, including internal culture, unequal distribution, and excessive promises of benefits.
- “When things were going well, it was just a lot of hiring for prestige and good resumes, rather than actually looking at execution and who can deliver,” a former employee told Axios. “There were a lot of stuffed animals.
- “Things are imploding,” says a current employee.
- “There’s going to be a big ‘come to Jesus’ moment at Olive,” says another former employee. “What is the future of the company? They need a clear approach.”
- When reached for comment, an Olive spokesperson said: “Olive is proud to employ over 1,300 talented and passionate people. We continue to attract and retain top talent and are grateful for the contributions of all Olivians – past, present and future – who have evolved and will continue to bring us closer to achieving our mission and creating a new experience. health care for humans.
Rollback: Axios published an investigation in April alleging that Olive was over-promising and under-delivering.
Olive investor General Catalyst did not respond to repeated requests for comment.