Vedantu reportedly fires 385 employees
By MYBRANDBOOK
Tiger Global-backed edtech unicorn Vedantu has reportedly laid off another 385 employees in a cost-cutting initiative, prioritising profitability over growth.
With this, the company has now fired more than 1,000 employees this year. While employees from across various departments have been laid off, learning content, HR and sales enablement teams are the most affected teams.
The firm is offering extended health benefits for self and family and other benefits to the laid-off employees. They may also receive voluntary outplacement service support. After this round of layoff, Vedantu now has around 3,300 employees.
Vedantu has been hit by slowing growth in the core online learning vertical, causing the company to let go of the staff. In May, Vedantu laid off over 620 employees, followed by another round of layoffs in August. The company laid off 100 full-time employees then.
In October this year, Vedantu bought a majority stake in Deeksha (Ace Creative Learning) for $40 million. Deeksha is a leading test preparation platform in Karnataka for board and competitive exam coaching for students of Classes XI and XII.
Singapore to remove One-Time Passwords from Bank Accounts
According to the Monetary Authority of Singapore, clients who utilise secur...
Is 375 million Airtel subscribers database breached?
When a hacker claims to have accessed and put up for sale a customer databa...
The government of India intends to construct a single portal f
A single portal will be launched by the Indian government to list all of it...
OpenAI offers GPT-4o, a faster model available to all users at
GPT-4o, a faster and more sophisticated AI model, is made available to all...
Icons Of India : NIKHIL RATHI
Co-founder & CEO of Web Werks, a global leader in Data Centers and Clo...
ICONS OF INDIA : ROSHNI NADAR MALHOTRA
Roshni Nadar Malhotra is the Chairperson of HCLTech, a leading global ...
ICONS OF INDIA : SANDIP PATEL
Sandip Patel is the Managing Director for IBM India & South Asia regio...
NSE - National Stock Exchange
NSE is the leading stock exchange in India....
EESL - Energy Efficiency Services Limited
EESL is uniquely positioned in India’s energy sector to address ener...
TCIL - Telecommunications Consultants India Limited
TCIL is a government-owned engineering and consultancy company...
Indian Tech Talent Excelling The Tech World - Satya Nadella, Chairman & CEO- Microsoft
Satya Nadella, the Chairman and CEO of Microsoft, recently emphasized ...
Indian Tech Talent Excelling The Tech World - Lal Karsanbhai, President & CEO, Emerson
Lal Karsanbhai, President and CEO of Emerson, assumed the leadership i...
Indian Tech Talent Excelling The Tech World - Dheeraj Pandey, CEO, DevRev
Dheeraj Pandey, Co-founder and CEO at DevRev , has a remarkable journe...