Amazon discontinued its Halo fitness tracker device, signaling a setback for a company that has long been known for having its finger on the pulse of what consumers desire. The e-commerce giant announced on Wednesday that it will stop supporting the devices effective July 31, 2023, a move that will also cost some employees their jobs. Customers who purchased Halo products in the preceding 12 months are entitled to full refunds for their purchases, including subscription fees, as per Amazon.

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The decision to shut down the Halo line comes just three years after Amazon launched it, billing the products and services as “AI-powered health tools” that could monitor activity and sleep, measure body fat, and provide users with information about their health. But the company faced stiff competition in the fitness and health tracking segment from companies including Apple, Garmin, and Google-owned Fitbit.

Amazon’s decision to discontinue the Halo line raises questions about the future of health tech and whether Amazon, long seen as a disruptor in the space, will continue to innovate in this area. For a company that has invested heavily in the healthcare industry in recent years, the move to scrap the Halo line could be seen as a significant setback.

“At Amazon, we think big, experiment, and invest in new ideas like Amazon Halo in our efforts to delight customers,” the company said in a statement. “We’ve learned a lot about how customers use and value our health and wellness offerings, and we’ll use that knowledge to continue innovating, building and investing in new products and services to improve customers’ lives.”

Despite Amazon’s optimistic tone, the decision to end the Halo line is just the latest cost-cutting measure taken by the company amid concerns about sluggish online sales and a broader economic slowdown. In recent months, Amazon has shuttered its hybrid virtual, in-home care service Amazon Care, the video calling device Amazon Glow, and scaled back its Scout delivery program.

The Halo View and Amazon Halo Band bracelet fitness trackers, along with the Amazon Halo Rise, a sleep-tracking stand, will cease functioning on August 1, 2023. Users will have the ability to delete or download any data the devices have collected that they wish to keep, according to Amazon.

Despite the end of the Halo line, the health tech industry is still growing at a rapid pace, with new players entering the market every day. With the pandemic accelerating the adoption of remote health monitoring, there is no shortage of opportunities for companies to innovate and disrupt the industry.

As Amazon continues to experiment and invest in new health and wellness offerings, it remains to be seen whether the company will be able to regain its footing in the space it once dominated. But for now, the end of the Halo line marks a significant setback for a company that has long been at the forefront of innovation in the health tech industry.