InvestorQ : Is it true that Vedantu has again laid off people in its Edtech venture?
NISHA Nayak made post

Is it true that Vedantu has again laid off people in its Edtech venture?

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Priyanka N answered.
2 weeks ago
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That is correct. In fact, this is the third round of lay-offs that Vedantu has done since the month of May as pressure has built up in its core edtech business and fresh funding for edtechs is not really coming in at the pace anticipated. In the latest round, Vedantu has laid off more than 100 employees as part of a major restructuring and realignment of role exercise that the company has current taken up. In terms of functional mix, this time around, the lay-offs have been largely across sales and training.

Of course, this time around the company has only laid off 100 employees. That is much lower compared to the massive lay-off in May 2022 when the company had actually laid off more than 625 employees in one go. The demand for online education solutions has slowed sharply post the pandemic as students now prefer returning to their classrooms rather than spend more time in the online education programs, which are the bread and butter of Vedantu. This is forcing aggressive cost cutting as funding sources also dry up.

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