India

Edtech Firm Vedantu Lays Off 200 Employees

Last month, edtech company Unacademy laid off around 600 employees. (Representational)New Delhi: Edtech firm Vedantu has laid off 200 employees as it did not find them in sync with the company's growth expectation.When contacted, the company spokesperson confirmed the development and said the firm is also hiring over 1,000 new people."We have over 6,000 employees…

Last month, edtech company Unacademy laid off around 600 employees. (Representational)

New Delhi:

Edtech firm Vedantu has laid off 200 employees as it did not find them in sync with the company’s growth expectation.

When contacted, the company spokesperson confirmed the development and said the firm is also hiring over 1,000 new people.

“We have over 6,000 employees out of which 120 contractors and 80 full-time or 3.5 per cent of the total strength are academics or assistant teachers, who were being reevaluated. We have an annual contract with them, and at the beginning of every academic year, we follow a process of load rebalancing, where we rejig pertaining to these roles, based on our growth expectations,” the spokesperson said.

The spokesperson said the reassessment cannot be done in the middle of the year as the learning experience and continuity of the teachers throughout the year is the company’s priority.

“With more technology intervention, restructuring of the class format, and changes in the categories, we relook at these roles of our academics and assistant teachers. As we synchronize our growth goals for this year, we are also hiring more than 1,000 employees in various teams, including over 100 for similar positions,” the spokesperson said.

Last month, edtech company Unacademy laid off around 600 employees on account of non-performance and role redundancy as the company looks to enhance efficiency and become profitable by the end of this year.

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