business
Why are ed-tech companies laying off in masses?
Jun 06, 04:06

The number of employees being laid off by edtech companies has been rising every month since the start of 2022. Now the count is close to 3,700. Why so? Schools, colleges, and physical coaching centres are opening up in the post-pandemic world. K-12 vertical suffers as parents and students prefer physical classes. 2022 has ushered in a funding winter after a two-year-long startup party, and companies are looking to cut costs as focus shifts to profitability. All the above changes have started hurting edtech companies with the demand for remote learning and technology-based education services dropping.

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