The majority of us have heard about the news of the large number of employees who have been sacked by major Indian Startups in the past 5 months. Until today, More than 10,000 Employees have been Lay-off by 25 Indian Startups, which include unicorns like Unacademy, Byju’s, Vedantu, Cars24, Ola, MPL, Meesho, and Trell. Now, If I talk about Edtech companies, “Why are they laying off thousands of employees?”
Currently, we are slightly moving towards a post-covid era. So, The students are shifting toward offline teaching options like Schools and Colleges as they are open. There is one more strategy for edtech start-ups that became their huge limitation, i.e. Startups did a Bulk hiring during the Covid-19 Pandemic to expand their business and reach out to more students.
If we talk about other Startups, they are trying to cut down their costs as much as possible because their funding has slowed down and not able to handle pressure from investors. The story doesn’t end here. According to Industry Experts, Start-ups will sack more employees in upcoming months to become more cost-efficient.
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