Vedantu to add to mounting layoffs, once again plans to kick out employees
Edtech unicorn Vedantu is all set for its fourth round of job cuts this year. The company will soon sack another 385 employees in an attempt to become more profitable and be IPO-ready by the financial year (FY) 2026.
“Vedantu is firing around 385 employees across operations, sales and the human resource departments. Even senior management employees will be impacted by this decision,” said people in the know according to Financial Express.
The edtech firm has also asked certain employees to voluntarily put down the papers to avoid laying them off, some workers alleged.
“Vedantu is aiming to turn profitable and file for an IPO by FY26 for which it will have to reduce expenses, so the company will be letting go of around 385 employees. Vedantu, however, has a cash runway of about 18 months,” another person aware of the company’s plans said, as per the same report.
This is the fourth time this year that Vedantu is firing employees to reduce costs. Before this, the company sacked 624 staffers in May.