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Vedantu Fires Another 385 Employees; Over 1,000 Laid Off So Far This Year

Edtech unicorn Vedantu has fired another 385 employees, taking its total layoff count for the year to over 1,000, according to a person familiar with the matter. The Bengaluru-headquartered firm's founding team and C-suite executives will also take paycuts as large as 50%, said the person quoted above, who spoke on condition of anonymity. The development was first reported by Entrackr. The company has not responded to BQ Prime's queries so far.

Vamsi krishnaChief executive officer vamsi krishna

Vedantu Will lay off 424 Staff due to Scarcity of capital

According to its co-founder and Chief Executive Officer Vamsi Krishna, Edtech unicorn Vedantu is laying off 424 employees, or approximately 7% of its workforce, because the Tiger Global-backed company expects a lack of money in the next quarters due to a slowdown in global financial markets. 'The external environment is currently difficult. War in Europe, fears of an oncoming recession, and Fed rate hikes have all contributed to inflationary pressures, as well as a big correction in global and Indian stock markets. Given the current environment, money would be tight in the next quarters 'In a blog post, Krishna informed

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Is BYJU s acquiring Vedantu? Check what the latter s CEO has to say | Companies News

Is BYJU s acquiring Vedantu? Check what the latter s CEO has to say | Companies News
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Reports about deal talks with edtech giant Byju s false, says Vedantu

Reports about deal talks with edtech giant Byju s false, says Vedantu
business-standard.com - get the latest breaking news, showbiz & celebrity photos, sport news & rumours, viral videos and top stories from business-standard.com Daily Mail and Mail on Sunday newspapers.

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