Edtech unicorn Vedantu has laid off 424 employees, about 7 per cent of its workforce, according to a blog post shared by the Bengaluru-based firm.
This comes as the focus in the edtech space has shifted to profitability, according to experts.
The lay-off comes days after the company fired 200 contractual and full-time employees, at a time when offline schools and colleges are opening up and learning is evolving into a more nuanced blended delivery model with a mix of online and offline.
"There is no easy way to say this but I am truly sorry. Out of 5,900 Vedans (employees), 424 of our fellow teammates, i.e about 7 per cent of our company, will be parting with us," said Vamsi Krishna, chief executive officer and co-founder of Vedantu, in a blog post.
This story is from the May 19, 2022 edition of Business Standard.
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This story is from the May 19, 2022 edition of Business Standard.
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