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Vedantu Layoffs Update: Edtech platform is taking the name of stopping layoffs in startup companies. Veteran edtech company Vedatu has again decided to lay off its employees. In the fourth round of layoffs this year, the company is going to lay off about 385 employees.
According to IANS, Vendatu is going to make these layoffs from the Sales, HR, Content team. Apart from reducing the expenditure, the company is going to do this keeping in mind the growth and making profits. With this retrenchment, this year the company has shown the way out to about 1100 people. Although the company has not said anything about this statement. In August this year too, Vendatu had laid off 100 employees. Earlier in May 2022, 624 people were laid off, which is 10 percent of the total workforce. The company had 5900 employees in the month of May.
In the same year, Vendatu bought the legendary test preparation platform Deeksha for $40 million. Diksha is one of the leading K-12 test preparation companies in Karnataka and according to Vedantu, this strategic partnership will further its hybrid education strategy. Vamsi Krishna, CEO and Co-Founder of the company said that with this acquisition, it is our mission to transform Diksha’s current learning model by deploying our disruptive in-house hybrid technology to reach masses in remote areas and create impact at scale. To make strong.
After lack of funding, more than 16,000 employees have been laid off by 44 startups in India in recent months. Edtech companies that have been laid off include companies like BYJU’S, Unacademy and Vedantu.
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