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EDTECH LAYOFFS
From $22 billion to zero: Success, not failure, brought Byju downByju's, once a $22 billion edtech giant, has collapsed. Founder Byju Raveendran faces jail for contempt. The company's downfall stems from ...- Lenskart, Ola’s Q4 scorecards; Visa maze for laid-off techiesLenskart has posted a sharp jump in its March-quarter revenue even as profit dipped marginally. This and more in today’s ETtech Top 5.
- Amazon primes a Blinkit showdown; New insurance models prop upHappy Tuesday! Amazon's late but strong push into quick commerce is unsettling market leader Blinkit. This and more in today's ETtech Morni...
- Google-backed Adda247 cuts 20% workforce amid slowing revenueEdtech platform Adda247 has reduced its workforce by 20%. This move comes as the company experiences slowing revenue growth. Adda247 is pre...
- UpGrad-Unacademy deal closes; India’s largest private satellite lifts offHappy Monday! Upgrad is set to acquire Unacademy at a 90% markdown of its peak valuation. This and more in today's ETtech Morning Dispatch.
- Layoffs in 2023: Microsoft, Cognizant, Accenture among latest firms to cut jobs amid economic turmoilThe layoff wave has swept not only startups and mid-sized firms, but also big tech companies such as Amazon, Microsoft, and Google parent A...
- Byju's employee who worked '24/7' laid off, shares painful ordealEdtech major BYJU's has laid off close to 1,000 employees across departments as part of its restructuring process. The fresh round of firin...
- About 27K employees lost jobs at Indian startups to date, over 8K this yearChennai-based edtech startup Skill-Lync laid off employees as it consolidates operations across Chennai, Bengaluru, and Hyderabad amid glob...
- Teachmint lays off 70 employees in second job cut in six monthsTeachmint was founded in May 2020 by Mihir Gupta, Payoj Jain, Divyansh Bordia and Anshuman Kumar. It started off as digitising tool for ind...
- Amid layoffs, clutch of edtech firms roll out hikes and ESOPSEdtech startups like Eruditus and Emeritus, Classplus, BrightCHAMPS, among others, are looking to reward employees through increments. Othe...
- Pay hike on the cards for edtech employees after an edgy 2022Edtech startups like Eruditus and Emeritus, Classplus, BrightCHAMPS among others are looking to reward employees through increments.
- Byju’s continues to cut jobs, another 1,000 employees laid offThe layoffs are part of a massive cost cutting exercise Byju’s initiated last year to streamline its operations at a time when digital K12 ...
- Edtech startup Vedantu's FY22 losses extend to Rs 696 croreTotal expenses, which was led by people costs, went up 19% in the reported period of FY22, at Rs 890.93 crore. People costs, a growing conc...
- Lead acquires Pearson's K-12 biz; KreditBee raises $120 million in new financing trancheEdtech unicorn Lead is set to acquire the K-12 India business of British educational services company Pearson, which has been divesting its...
- 2022 Year in Review: Fund-starved startups sacked nearly 18,000 employeesEdtech companies accounted for a staggering 44% of the total layoffs. In total, 52 startups fired 17,989 employees spread across edtech, co...
- Edtech firm Vedantu cuts 385 jobs in fourth round of layoffs this yearThe company had previously laid off 100-full time employees from its sales team in July and another 624 full-time and contractual employees...
- Many laid-off edtech workers open to large pay cuts amid job crunchTech, sales and marketing, content, product developers, teachers and contractual staff like testers, have all been affected. While the firs...
- FrontRow fires 130 employees in second layoff exerciseThis is the second layoff for FrontRow after it laid off close to 145 full-time and contractual employees in May this year. After the secon...
- Vedantu lays off another 100 employees after sacking 624 in MayInterestingly, cofounder and chief executive Vamsi Krishna had said in a memo to employees on May 18 that the previous retrenchment exercis...
- Edtech platform MasterClass cuts 20% of its workforceMasterClass CEO David Rogier said the decision was taken to "adapt to the worsening macro environment and get to self sustainability faster...
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