September 29, 2023

One other homegrown edtech startup Teachmint has laid off over 70 staff, its second spherical of job cuts after sacking about 45 employees some 5 months in the past, media experiences mentioned on Friday.

In keeping with main startup information portal Inc42, the Lightspeed-backed edtech startup knowledgeable in regards to the layoffs in a town-hall assembly with staff.

The layoff impacted staff in expertise acquisition, tech, and assist roles groups on the Bengaluru-based startup.

“Some roles have been sadly impacted as we work on rising structural efficiencies in our operations. We’ve got proactively communicated to the impacted colleagues and are engaged on offering them complete assist,” mentioned a Teachmint spokesperson.

Led by edtech startups, over 25,000 staff have been laid off by almost 100 startups in India together with BYJU’S, Unacademy and Vedantu.

Final month, Chennai-based edtech startup Talent-Lync laid off staff because it consolidates operations throughout Chennai, Bengaluru and Hyderabad amid world macroeconomic situations.

In March, Gaurav Munjal, Co-Founder and CEO of Unacademy, introduced to cut back the scale of the crew by 12 per cent or greater than 350 staff to “meet the targets we’re chasing within the present realities we face”.

In November final 12 months, the edtech main laid off 10 per cent of its workforce or almost 350 staff, as funding winter deepened.


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