Vedantu, the edtech behemoth, has laid off 200 people. This news comes nearly seven months after the Tiger Global-backed firm joined the unicorn club. With this statement, the Bengaluru-based company joins over a half-dozen other growth-stage startups that have lately let off a major portion of its personnel.
While Vedantu claims it is part of a re-evaluation, numerous employees claim they were given pink slips without warning.
Commenting on the lay off’s Vedantu’s spokeswoman stated in an official statement. “We have almost 6000 personnel, with 120 contractors and 80 full-time employees, or 3.5 percent of the overall strength, being reevaluated as assistant teachers or academics.” We have a yearly contract with them, and at the start of each academic year, we go through a load rebalancing process where we rejig these jobs based on our development expectations,”