Edtech firm Vedantu lays off 424 more employees

In September last year, the company raised $100 million in its Series E round

AgenciesUpdated: Thursday, May 19, 2022, 04:25 PM IST
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Last month, Unacademy laid off about 600 employees comprising nearly 10 percent of its workforce. /Representative image |

Days after firing 200 contractual and full-time employees, edtech firm Vedantu has laid off 424 more people, Vedantu's Co-founder and CEO Vamsi Krishna announced.

"There is no easy way to say this but I am truly sorry. Out of 5,900 Vedans (employees), 424 of our fellow teammates i.e about 7 percent of our company, will be parting with us," Krishna wrote in a blog post.

"This has been an extremely difficult call to make, and I want each Vedan to understand why V (Vedantu) had to take this call and what it means to you and the future of Vedantu," Krishna added.

Vedantu is a pioneer in live online tutoring. In September last year, the company raised $100 million in its Series E round, from investors such as ABC World Asia, Coatue and Tiger Global, taking its valuation to over $1 billion.

Vedantu competes with the firms like Byju's, Unacademy, Simplilearn, UpGrad and Amazon Academy. Last month, Unacademy laid off about 600 employees comprising nearly 10 percent of its workforce.

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