20% cost reduction to address reforecast for 2024
- Zoe, a health app and gut shot brand, is reducing staff after over-expanding in the past six months.
- CEO Jonathan Wolf announced a 20% cost reduction to address an unsustainable growth forecast for 2024.
- Zoe will also pause its London HQ search, U.S. warehouse development, and cut contract costs.
- The company offers £299 gut health test kits and memberships ranging from £24.99 to £59.99 per month.
- Zoe launched in April 2022, received £2m from Steven Bartlett, and signed Davina McCall as an ambassador.
- In collaboration with M&S, Zoe launched a gut health shot priced at £2, featuring live cultures and fiber.
- Despite the growth, members criticized high prices and slow support response times, leading some to leave.
- Wolf acknowledged the difficulty of layoffs but emphasized the importance of the company's mission.
