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Days after firing 200 contractual and full-time staff, edtech agency Vedantu has laid off 424 extra individuals, Vedantu’s Co-founder and CEO Vamsi Krishna introduced.
“There isn’t any simple technique to say this however I’m really sorry. Out of 5,900 Vedans (staff), 424 of our fellow teammates i.e about 7 per cent of our firm, will probably be parting with us,” Krishna wrote in a weblog publish.
“This has been a particularly troublesome name to make, and I would like every Vedan to grasp why V (Vedantu) needed to take this name and what it means to you and the way forward for Vedantu,” Krishna added.
Vedantu is a pioneer in reside on-line tutoring. In September final yr, the corporate raised $100 million in its Sequence E spherical, from traders similar to ABC World Asia, Coatue and Tiger International, taking its valuation to over $1 billion.
Vedantu competes with the corporations like Byju’s, Unacademy, Simplilearn, UpGrad and Amazon Academy.
Final month, Unacademy laid off about 600 staff comprising almost 10 per cent of its workforce.
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