Business Standard

Thursday, December 19, 2024 | 07:42 PM ISTEN Hindi

Notification Icon
userprofile IconSearch

Vedantu lays off another 424 employees, blames 'scarce capital'

The decision comes just days after Vedantu had announced that it had let go of another 200 people.

Vedantu
Premium

Photo: Shutterstock

BS Web Team
Vedantu laid off 424 employees, or 7 per cent of the workforce on May 18, said the ed-tech firm days after announcing it had let go of another 200 people.

“War in Europe, impending recession fears, and Fed rate interest hikes have led to inflationary pressures with massive correction in stocks globally and in India as well. Given this environment, capital will be scarce for upcoming quarters," said the company in a blog post.

Vedantu is among online education firms battered by the coronavirus pandemic. Over the last few months, 800 people resigned from Byju’s-owned coding platform WhiteHat Jr after
Topics : EdTech

What you get on BS Premium?

  • Unlock 30+ premium stories daily hand-picked by our editors, across devices on browser and app.
  • Pick your 5 favourite companies, get a daily email with all news updates on them.
  • Full access to our intuitive epaper - clip, save, share articles from any device; newspaper archives from 2006.
  • Preferential invites to Business Standard events.
  • Curated newsletters on markets, personal finance, policy & politics, start-ups, technology, and more.
VIEW ALL FAQs

Need More Information - write to us at assist@bsmail.in