Homegrown edtech business Teachmint pulls off nearly 70 workers
Another domestic edtech business Teachmint has fired off around 70 staff, its second round of employment layoffs after firing roughly 45 people some five months ago, media sources stated on Friday.
According to prominent startup news site Inc42, the Lightspeed-backed edtech business notified about the layoffs at a town-hall meeting with workers.
The layoff affected personnel in talent acquisition, tech, and support roles departments at the Bengaluru-based business.
"Some positions have been sadly affected as we concentrate on boosting structural efficiency in our operations. We have proactively contacted to the affected colleagues and are working on offering them thorough assistance," stated a Teachmint official.
Led by edtech businesses, approximately 25,000 workers have been let off by almost 100 startups in India including BYJU'S, Unacademy and Vedantu.
Last month, Chennai-based edtech firm Skill-Lync lay off staff as it consolidates operations throughout Chennai, Bengaluru and Hyderabad under global macroeconomic circumstances.
In March, Gaurav Munjal, Co-Founder and CEO of Unacademy, announced to cut the size of the team by 12 per cent or more than 350 personnel to "meet the goals we are chasing in the current realities we face".
In November last year, the edtech company cut off 10 per cent of its staff or around 350 people, as financing winter intensified.
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