Vedantu sees fourth round of layoffs of the year 2022, number of jobs cut and more – Times of India

Edtech company Vedantu has laid off another 385 employees. This is the fourth round of job cuts this year at the company. With this round, Vedantu has so far asked about 1,100 employees to go. The job cuts come just weeks after the company spent $40 million on acquisition of test preparation platform Deeksha (Ace Creative Learning Pvt Ltd). Deeksha is one of the leading K-12 test preparation players in South India. Vedantu said that the strategic partnership will help further its hybrid education strategy.
Teams affected by the job cuts at Vedantu
The layoffs have happened across sales, HR, and content teams. The company sources termed the cuts as part of an aggressive measure to reduce excess burn and the need to prioritise profitability over growth.
A report in Entracker quoting sources said that the founding team including CXO [is] also taking a 50% pay cut. It is not known if the salary cuts are across the board or limited to top management.
Earlier three rounds of job cuts at Vedantu
In May this year, the company laid off a total of 624 employees in two rounds. The number accounted for over 10 percent of its workforce. Later in July-August this year, Vedantu cut another 100 jobs. Mostly the sales team is said to have been impacted in this round. After the latest round of layoffs, Vedantu has about 3,300 employees.
Edtech job cuts carnage marks 2022
Arch-rival Byju’s also announced a ‘rationalisation exercise’ in October, sacking 2,500 employees in one of the biggest layoff rounds by an Indian startup in the year 2022.
In November, test preparation major Unacademy said that it was cutting as many as 350 jobs in its second round of layoffs this year. It had previously (in April) fired around 1,000 contractual and full-time employees.

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