GET LIVE MARKET QUOTES & NEWS
Download App
HomeNewsBusinessStartup

Edtech unicorn Vedantu lays off another 100 employees

Aug 02, 2022 / 09:20 PM IST

According to sources, permanent employees from sales and training teams were laid off over the last month.

Image Credits: SourceCon

Edtech unicorn Vedantu has laid off another 100 employees in a restructuring exercise, sources told Moneycontrol on August 2, marking the company’s third round of layoffs since May 2022.

According to sources, permanent employees from sales and training teams were laid off over the last month. Vedantu will be offering a two-month salary as severance to the affected employees, sources said.

In May, the company had laid off 624 employees, including permanent employees and contractual educators, accounting for over 10 percent of its workforce. The company's co-founder and CEO Vamsi Krishna had then said that he was expecting capital to be scarce in coming quarters.

Queries sent to the company remained unanswered.

Inc42 first reported on the development.

(This is a developing story. Please check back for updates.)

Nikhil Patwardhan
Mansi Verma
first published: Aug 2, 2022 09:18 pm