Olive sheds more top talent

Olive AI has lost another 20+ of its top talent, less than a month after seeing more than 20 high-level staff departures, Axios has learned.

Why it matters: The $4 billion health care automation company that touts an all-star investor list continues to shed talent and has now frozen hiring.

Where it stands: Olive froze hiring effective May 23, according to company-wide emails viewed by Axios which read, in part: "Is this a hiring freeze? Yes."

• The suspension comes after the company paused hiring in March. Three sources told Axios at the time that pause was because of issues maintaining its budget and came amid a previous staff egress.

By the numbers: Within roughly the last month, at least 24 more employees have left the company, according to five current and former employees and confirmed by Axios on LinkedIn, including its:

Of note: Olive's EVP of engineering, Sundar Raghavan, who hailed from Facebook, Amazon and Google, was only at the company for 5 months, according to two current employees.

What they're saying: The five current and former employees say staff turnover has become a constant feature at the company. These sources cite various factors, including internal culture and uneven distribution and overpromising of benefits.

What they're saying: The five current and former employees say staff turnover has become a constant feature at the company. These sources cite various factors, including internal culture and uneven distribution and overpromising of benefits.

• "When things were going well it was just a lot of hiring for prestige and great resumes, rather than actually looking at execution and who can deliver," one former employee tells Axios. "There was a lot of fluff."
• "Things are imploding," says one current employee.

• "There is going to be a big 'come to Jesus' moment at Olive," says another former employee. "What is the future of the business? They need a clear approach."
• When reached for comment, an Olive spokesperson said “Olive is proud to employ more than 1300 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 — which have moved and will continue to move us closer to achieving our mission and creating a new healthcare experience for humans.”

Flashback: Axios in April published an investigation alleging that Olive overpromises and underdelivers.

Olive investor General Catalyst has not responded to repeated requests for comment.

Editor's note: The table and story were corrected to show that the 24 employees left since mid-April, instead of end of April.