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Leading edtech platform Vedantu has laid off one other 385 workers, its fourth spherical of job cuts this yr, because the funding winter will get worsen, firm sources informed IANS on Wednesday.
The layoffs have occurred throughout gross sales, HR, and content material groups which, in response to the corporate sources, is a part of an aggressive measure to scale back extra burn, thus prioritising profitability over progress.
With this spherical, Vedantu has thus far requested about 1,100 workers to go.
When reached, the edtech main didn’t instantly remark.
In August, Vedantu requested 100 workers to go. The firm had laid off 624 workers in May, which accounted for over 10 per cent of its workforce.
The firm had almost 5,900 workers in May.
In October, the reside on-line studying platform purchased a majority stake in check preparation platform Deeksha (Ace Creative Learning Pvt Ltd) for $40 million.
Deeksha is likely one of the main Okay-12 check preparation gamers in Karnataka and in response to Vedantu, this strategic partnership will additional its hybrid schooling technique.
“With this acquisition, our mission is to empower and scale Deeksha’s current learning model by deploying our disruptive in-house hybrid technology to reach the masses in remote areas and create impact at scale,” mentioned Vamsi Krishna, CEO, and Co-Founder, Vedantu.
In India, greater than 16,000 workers have been requested to go by about 44 startups, led by edtech corporations like BYJU’S, Unacademy and Vedantu, as VC funding dried up.
— IANS
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