Tiger Global-backed edtech unicorn Vedantu has laid off another 385 employees in a cost-cutting initiative as it eyes profitability by next year, sources aware of the matter told Moneycontrol.
Employees from across verticals have been laid off but learning content, HR (human resources) and sales enablement teams are the most affected teams, one source said, requesting anonymity.
The edtech platform has been hit by slowing growth in the core online learning vertical and so, the company had to let go of the staff, the source added.
Vedantu has now fired more than 1,000 employees since the start of 2022. The company did not comment on queries sent by Moneycontrol.
This is a developing story...
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